Underbanked

The service for purchasing digital content and paying through a phone bill to more than 79 million mobile phone owners in Algeria, Ghana and Tanzania.

The Pasadena, Calif., firm also reported growth in the number of active prepaid cards for the first time since the second quarter of 2015. Profits rose by 24%.

The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.

Despite a categorical denial this week by Wells Fargo CEO Tim Sloan, former employees like Yesenia Guitron say trawling for immigrants was routine.

At a minimum, federal lawmakers should fully fund the Community Development Financial Institutions Fund and support the CDFIs that provide economic opportunity where it is needed most.

Big data is a key for banks to better understand what financial products underbanked consumers and small businesses need.

Kosta Peric, deputy director of digital payments and financial services for the poor at the Gates Foundation, discusses his efforts to expand access to low-cost financial services in developing countries.

We asked microfinance organizations around the country about the challenges they face, what they wish banks would do differently, and even what they are reading. Here are some of their responses.

The marketplace for services to help struggling families balance their short-term and long-term financial needs is improving, but is still insufficient.

Income volatility is a persistent problem for millions of U.S. households. Banks and fintech companies are trying to help consumers cope — but the industry can do more.