Underbanked

Despite gains for the legalization effort in the November election, the disconnect between federal and state law preserves uncertainty for banks catering to pot businesses.

J.G. Wentworth's quirky Broadway-style ads have made it familiar as a structured settlement purchase company, and as it attempts to grab share in the prepaid market it's looking to lottery agencies to make sure its strategy is no gamble.

WASHINGTON – House Republicans are urging the Consumer Financial Protection Bureau to process a deluge of comment letters on the bureau's proposal to restrict small-dollar lending.

After more than two decades bringing underbanked consumers into the mainstream, Bryant has found a way to combat financial illiteracy that also addresses two critical business problems facing banks today: keeping branches relevant and finding new customers.

India's move to remove much of the country's cash notes is having an adverse impact on much of the country's population, according to former U.S. Treasury Secretary Lawrence Summers.

A number of states still have a disproportionately high percentage of unbanked and underbanked citizens. Bankers in those states hope that financial education, along with efforts to promote checking accounts and small-dollar loans, will get more people into the banking system.

Fifth Third Bancorp in Cincinnati has expanded its community development pledge to $30 billion.

The Federal Trade Commission filed a lawsuit against NetSpend on Thursday, alleging that the prepaid card issuer deceived consumers in its advertising.

To jawbone Mexico into paying for the wall, President-elect Trump has threatened to suspend remittances. Such a move would disrupt one of the busiest corridors of money in the world.

Low-income urban youth methodically saved money when taught about goal-setting and given access to savings accounts and other basic banking tools.

While big banks have grown more comfortable lending to casinos based on reservations, financial firms have been slower to embrace other Native American enterprises.

One of the nation's biggest prepaid card issuers said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.

The new Spanish-language settings on B of A's app, USAA's new voice-guided remote-deposit capture and moves by others show how financial institutions are using technology to better serve the needs of customers.

Recent moves by the Consumer Financial Protection Bureau, including a plan to regulate payday lending, take away what limited credit options consumers have.

The new prepaid rules make it harder for bad actors to enter the industry while also being broad enough to apply to future digital products.

The Consumer Financial Protection Bureau’s new regulation governing prepaid cards will disrupt consumer practices, drive up costs and wreak havoc on a fast-growing sector within the payments industry.

The bank's fake account scandal is further reason to make the results of Wells' 2012 Community Reinvestment Act exam public.

Mission Asset Fund has helped people build their credit by formalizing the informality of lending circles. The John D. and Catherine T. MacArthur Foundation recently named Mission's CEO José A. Quiñonez one of its 2016 Fellows.

A strategy to reinvigorate black-owned financial institutions would not only bring hope to the black community but would also be an inspiration for other minorities who seek to be more effectively served by financial institutions that understand their needs.

WASHINGTON — More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.