Underbanked

A startup backed by philanthropist Pierre Omidyar has emerged from stealth mode with technology that promises to provide consistent value and a degree of privacy to electronic money.

The Treasury Annex building in Washington is slated to be renamed in honor of a bank that served emancipated slaves after the end of the Civil War.

Angus Deaton's efforts to improve understanding of poverty have helped open the door to financial services firms meeting the market demands of the world's poor.

The vaguely defined term needs an overhaul to meet the financial demands of refugees and others long ignored by efforts to expand banking access.

Contrary to industry representatives' opinion, overdraft rules are necessary for a service that has become a revenue driver for banks.

A new Fannie Mae program allowing nonborrower income to count in qualifying homeowners for low-down payment loans received near-universal praise from industry representatives and federal officials at a recent housing symposium here.

The online payday lender Integrity Advance is being sued by the Consumer Financial Protection Bureau for allegedly deceiving consumers about its loan costs.

Springleaf Holdings has changed its name to OneMain Holdings after buying its top competitor from Citigroup for $4.49 billion.

A handful of entrepreneurs have created apps that let workers, especially those with inconsistent incomes, receive portions of their paychecks before payday. Their emergence underscores how slower payments look out of date in an on-demand world.

Our nation has a long way to go to protect those defending our homeland. Stopping the damage of high-cost credit is an important first step.

With the CFPB poised to finalize regulations on overdraft fees, it is important to realize how much the product helps informed consumers.

Traditional installment lenders are fixtures in their communities and verify borrowers' ability to repay, which cannot be said of payday lenders.

Fees charged to military banks under Department of Defense agreements are forcing branches to close, removing a key resource for troops and families.

The RushCard debacle should lead to consumer improvements, but it should not undercut the progress prepaid has made in helping consumers manage their finances.

Several large banks have already embraced standards released Tuesday by a consumer advocacy group laying out how institutions can offer safe, entry-level financial services.

New York’s attorney general called on more than 90 banks including units of Toronto-Dominion Bank and HSBC Holdings to revamp customer screening procedures to give poor people better access to financial services.

Consumer Financial Protection Bureau Director Richard Cordray issued a public rebuke of RushCard on Friday, warning that it must rapidly fix technical glitches that have left customers locked out of their accounts.

Regulatory action is needed to weed out patently unfair fee structures, but as an industry we should and can do better on our own.

Springleaf's proposed acquisition of Citi's OneMain Holdings is being delayed by the Justice Department, which appears focused on preserving competition at the local level — even as a raft of new subprime installment lenders are popping up on the Web.

The bureau's proposed standards would drive lenders out of short-term, small-dollar lending, just as the OCC's 2013 rules did. This time, however, there will be few, if any, regulated institutions left to fill the void.