Underbanked

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

Crypto provides a new tool for underbanked consumers, Marc Grens of DigitalMint writes.

Crypto provides a new tool for underbanked consumers, says DigitalMint's Marc Grens.

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

James Gutierrez will remain on the board of directors and is trying to arrange financing to help keep the struggling company afloat.

Many of its borrowers have struggled to make payments since the pandemic struck, so it is helping them by suspending debt collections and capping rates on new loans at 36%.

The Democratic presidential nominee's plan would require the Federal Reserve to report the actions it is taking through its monetary and regulatory policies to address disparities in income between racial groups.

Current, Stoovo and other companies are reaching out with low-cost, low-fee financial services and even tools to help users search for part-time jobs.

Peoples Bank in Arkansas once used brokered deposits to fund more loans to underserved borrowers. It could do so again if Congress loosens restrictions, says CEO Mary Fowler.

Paycheck Protection Program loans were out of reach for the myriad of cash-based enterprises or underfunded businesses that are key to economic growth in the country. This could change the very fabric of New York City, with businesses that were part of people's everyday life disappearing.

Reading Cooperative Bank recently launched a program that aims to hire young Black and Hispanic adults from low-income communities. Its leaders say it’s part of a broad strategy to develop new pipelines of talent and better serve low-income communities.

The movement encouraging investment in banks run by African American management teams gained huge momentum in recent weeks, but a spat between one of those lenders and an activist investor highlights the potential downside.

It's imperative that financial services firms find ways to ensure all Americans have access to the banking services necessary to thrive.

As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.

As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

Industry figures have begun to speak out in support of demonstrations in the wake of the deaths of George Floyd and other African Americans, and new data is expected to show how the coronavirus impacted balance sheets.

The Independent Community Bankers of America has asked NCUA's inspector general to review the agency's decision to change how low-income credit unions receive that designation.

A new program is intended to reach individuals without a fixed address or checking account more easily access COVID-19 relief funds — and hopefully keep those consumers as members.

The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus to usher in additional changes without the normal amount of scrutiny.