Underbanked

Wirecard AG has agreed to buy Citigroup’s institutional prepaid card business, giving Germany-based Wirecard its first market foothold in North America.

Credit scores are useful in predicting the likelihood of whether someone will repay a loan. However, banks and others need to provide customers with another number that more accurately assesses their financial health.

Embattled prepaid card issuer Green Dot has officially split the roles of chairman and chief executive by naming a longtime payments industry executive as its new chairman.

A more nuanced view than the two opposing camps supporting or denigrating Dodd-Frank seeks to make banks profitable while ensuring consumers are protected and benefit from economic growth.

The Consumer Financial Protection Bureau should have looked more closely at states like Colorado that protect consumers from true predatory lenders while still preserving access to credit.

Consumers deserve disclosure and the protections enjoyed by payroll card users, but it is critical that regulations do not put providers out of business.

Steps to improve credit access, evangelize for down payment programs and offer borrower counseling can stop and even reverse the decline in homeownership.

The ultimate approval of the CIT-OneWest merger by regulators represents a giant step backwards for the Community Reinvestment Act.

The British giant is making fintech startups its allies as it builds a virtual bank tailored to the needs "of the people at the bottom of the pyramid."

The fintech lab backed by JPMorgan Chase and the Center for Financial Services Innovation has revealed nine winners of a recent startup competition focused on helping consumers plan for financial shocks.