Underbanked

Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.

Bill Donnelly was named the first-ever finance chief at San Francisco-based LendUp.

Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.

The company, which recently bought Sabadell United in Miami, is pledging to make billions of dollars in mortgages and small business loans in low- and moderate-income communities.

Deserve is offering unsecured cards to young adults who do not have traditional credit scores. The Silicon Valley startup uses a proprietary algorithm that analyzes bank account activity to evaluate the likelihood that borrowers will repay.

TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.

The ROI with the incremental costs and considerations will determine whether to proceed or not whether it is cashless, cash, or other alternative payment methods, writes Laura Townsend, senior vice president of the Merchant Advisory Group.

Banks could help narrow the financing gap for U.N. development goals to be met, but changes in Basel and loan guarantee standards are necessary.

The tech giant won praise from consumer groups for its decision to ban ads for high-cost consumer loans. But the policy contains a big loophole, and advertisers have found multiple ways to exploit it.

In a new book, Mehrsa Baradaran argues that the same forces of poverty that African-American banks were supposed to alleviate are now holding them back.

Jane Fraser has been tapped to revive lagging parts of Citi’s business before and Mexico is her latest turnaround assignment.

Most of the country has never heard of Madden v. Midland Funding, but the impact of the misguided court decision on consumers is far-reaching.

The Alabama bank will add the nonprofit's financial-advice centers for underbanked consumers to 88 branches over the next four years, in addition to the 12 it already housed.

The agency awarded grants in three areas: digital security, leadership development and technology aimed at enhancing a CU's capacity to serve the underserved.

The Swiss bank got involved in microfinance in a counterintuitive way: at the behest of its wealthiest clients. Technology has made lending in small rural villages more efficient and profitable.

The Pasadena, Calif., company reported net income of $19.3 million, up from $8 million in the same period a year earlier.

Readers react to USAA teaming up with Amazon’s Alexa, how a new Wells Fargo’s scandal could affect arbitration rules, a digital identity startup’s ambitions, and more.

As an open network, bitcoin is in one sense the most inclusive financial system imaginable. But for now, transfers of the cryptocurrency are priced like a luxury good.

Lansing, Mich. is working with area financial institutions -- including a local credit union -- to open accounts for people coming out of prison.

Lansing, Mich., is working with area banks to open accounts for people coming out of prison.