Underbanked

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

After the National Credit Union Administration asked for comments on proposed revisions and expansions to its Payday Alternative Loan program, credit unions offered their suggestions for how to fix it.

Helping the underserved, especially abroad, can help banks retain top workers and boost profits.

Forty credit unions participated in the study, which led to nearly $85 million in loans over the course of 18 months.

Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.

Whether you're lounging on the beach sipping mojitos, hiking the Smoky Mountains, or, like many of us, taking a breather from household chores on your staycation, you still need an escape from time to time.

Consumer advocates are urging local governments and courts to consider a person’s ability to pay before assessing fines and fees for such infractions as unpaid traffic tickets. Such changes could help low-income households avoid bankruptcy — and perhaps even make them more bankable.

Credit unions can apply for their share of approximately $2 million in Community Development Revolving Loan Fund grants between July 1 and Aug. 18.

Startups such as BREAUX Capital are trying to reach consumers historically underserved and underrepresented in financial services.

Fair Financial, a digital banking platform developed by a Twin Cities nonprofit in partnership with a local bank, launched a pilot program this week. By 2020, it plans to serve 5,000 customers across the country.