Underbanked

The federal government's more active role in GDP, payroll and other vital statistics produced by the island could hasten its recovery from Hurricane Maria and lift lending and bank valuations at the same time.

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked.

J. Mark McWatters, chairman of NCUA, and Rick Metsger, a board member, also said that Congress should give the agency more authority over field of membership for underserved areas.

Crystal Long, CEO and president of GECU, is being recognized by the National Credit Union Foundation for her efforts in financial literacy.

While many public policy initiatives focus on the 1.7 billion “unbanked,” we rarely hear about the nearly 1 billion people who do have a bank account and a smartphone but have no credit card nor cross-border-enabled debit, writes Eric Rosenthal, managing director of the Americas at Rapyd.

The agency is exploring how to reopen small-dollar lending options for banks, but consumer groups are urging it to maintain pricing limits and other controls.

The Financial Solutions Lab, a joint initiative, has announced the winners of its annual competition to identify solutions to consumer financial challenges, this year focusing on startups dedicated to improving financial health in the workplace.

A recent proposal to allow the government-sponsored enterprise to offer more credit in agricultural regions is deeply flawed.

LendStreet is looking to break the circle of debt that often arises when struggling borrowers try to consolidate what they owe.

The banking industry has long been critical of the government-sponsored enterprise, but the system could provide valuable banking services to large swaths of the country currently lacking access to them.