Underbanked

Banking industry groups said they were vindicated by the defeat of the ballot measure, but public banking advocates plan to keep pushing the idea.

Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers.

The Florida institution is the latest in a slew of credit unions to join the program focused on serving the Hispanic community.

Information about new account holders pulled from Bank of America, JPMorgan Chase, U.S. Bank and Wells Fargo contradicts the notion that the previously unbanked turn into costlier customers.

Synchrony CEO Margaret Keane says plastic cards will be gone in five years; David Tyrie is succeeding the high-profile Michelle Moore as BofA's digital chief; Fed outlines a new approach for its post-crisis supervisory program; and more from this week's most-read stories.

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

Despite improvements in the proportion of consumers without a bank account, there is still work to do to bring more Americans into the banking system, argues FDIC Chairman Jelena McWilliams.

The Human Account, a survey of 11,500 people, is intended to inspire banks and governments to come up with better ways to help low-income people.

The agency’s biennial survey showed gradual improvement in access to mainstream banks, but over 14 million adults lack ties to a federally insured institution.

Neither the prepaid issuer nor its bank partner can say when cardholders — many living paycheck to paycheck — will receive their funds.

As financial institutions struggle to regain public trust, they need to find more systematic ways to gauge how their work impacts consumers and communities.

The central bank’s top regulatory official discussed how the Fed is using listening sessions in isolated communities to understand the effect of losing the one bank in town.

Truebill, which started as a subscription management app and grew into one targeting bank fees, is now offering automated savings and financial management.

The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay.

Bruce Cahan, a lecturer at Stanford University who teaches ethics, explains the link between ethical principles and profitability for financial services firms.

The nation's largest bank said Wednesday it is seeking proposals on ways to address economic inequality in local neighborhoods across the country.

The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy.

The National Credit Union Administration’s only newly chartered credit union so far this year hopes to reach a highly unique target membership.

Legislation allowing regular bill payments to count toward credit history would solve more problems than some critics fear it would create.

The agency says it will act independently of other regulators to release a notice asking for public input on revamping the decades-old law.