Underbanked

Graduate students at an Atlanta university are working with Inclusiv and the On the Rise Financial Center to help the underserved gain access to financial services.

Any serious discussion of how best to update the Community Reinvestment Act for the 21st century must focus on strengthening the law, not eliminating it.

Several challenger banks are trying to relieve consumers’ financial stress by offering tools that guide better habits.

A recent report – supported by the National Council of Postal CUs – says the USPS is ill-equipped to manage the risks involved in offering banking services.

Sunrise Banks in Minnesota, which has a mission of helping underserved communities, also provides compliance services to fintechs with a similar mission.

A report released Tuesday echoes bankers’ arguments that the USPS is ill-equipped to manage the risks.

MyBucks and its New Finance Bank subsidiary have opened 4,200 digital banking accounts and provided 72 loans at a Malawi branch said to be the first of its kind in a refugee camp.

Upturn, which is owned by a BBVA unit, is offering a free online tool consumers can use to detect and dispute inaccuracies in their credit report.

The agency’s flawed methodology for determining interest rate caps on certain accounts poses risks for banks offering free, low-deposit checking and the financial system more broadly.

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