Underbanked

At a recent hearing in Harlem, community leaders and others expressed their desire for the United States Postal Service to offer financial services.

Steve Streit founded the nation's largest prepaid card issuer and took it public during a long tenure as CEO. Now he's locked in a nasty fight to keep his job and defend his reputation.

The Federal Deposit Insurance Corp.’s request for input on mobile financial services allows banks to promote how their mobile app helps the underserved, which is a plus when seeking merger approval.

At least three large U.S. banks are preparing to go to market with new small-dollar installment loan products in a move that could potentially disrupt the payday lending industry.

Banking is often seen as a quintessentially modern institution. But financial practices are deeply rooted in the medieval period.

With consumers generally averse to risk, financial institutions have an opportunity to rethink what it means to make bets in line with their customers' well-being.

While it is true that more consumers complain to the Consumer Financial Protection Bureau about their mortgages, the data still reinforces the idea that overdraft fees are more high-cost credit than protection.

Two startups are working to educate millennials on the importance of credit and issue them small credit lines. Credit to young adults largely dried up following the CARD Act of 2009, which changed the way banks and others could market to the group.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

The U.S. Postal Service is neglecting its profitable money-order business, which has lost 25% of its sales volume over the last five years. Big changes are needed to revive the product, according to a new report.