Underbanked

Banks shouldn't fight transactions, they should make them their friend. This way, banks have an opportunity to make money every time customers actually choose to do something.

Small-dollar credit must be high-quality, marketed transparently, affordable and structured to support repayment, with amortization periods that extend beyond a single pay period.

Tilono Corp., Kwedit's inventor, has rebranded both the company and Kwedit Direct as PayNearMe, and has retargeted the service to focus less on e-commerce and more on in-person payments.

Executives say rewards for spending could encourage people to reuse a product that many people view as disposable.

It is important to consider whether the types and levels of fees being assessed are fair, but reviewing fee schedules in the absence of usage data paints a one-dimensional picture.

A new venture capital firm focused on funding technology companies catering to the growing underbanked population has made its first investment, in GoalSpring Financial Inc., a San Francisco startup marketing an online debt management program.

The Treasury Department announced Thursday that it will launch a pilot program to let consumers have their income tax refund deposited into a low-cost bank account.

Selling prepaid cards might become less appealing to retailers if a recent proposal aimed at curbing money laundering takes effect.

It would be genuinely helpful to offer a few transitional bank-type services at check-cashing sites without abandoning the basic model of transaction-based fees for service.

For the underbanked, who use the service with prepaid cards, the attraction of mobile banking lies in its price, ease-of-access and portability, compared to other means of going online.

The Center for Financial Services Innovation, a nonprofit organization that focuses on financial services for underbanked consumers, will continue to operate as usual, despite the Aug. 20 failure of its affiliate bank, ShoreBank Corp.

Steven J. Bisbee never set out to be a lender to small businesses per se, but his recently launched website Cogster.com could be a lender's distant cousin.

To effectively target the underbanked, the CFPB will need a nuanced understanding of consumer financial needs and behaviors, and the range of products and terms offered in the market.

Visa Inc. is launching a nationwide campaign to promote awareness of the benefits of using reloadable prepaid cards instead of cash.

Five years after it began offering financial services to its underbanked clientele, Rent-A-Center Inc. is renewing its commitment to the sector.

Well-designed regulations can help protect consumers from the harm that markets can do but regulations don't rebuild reputations. Values do.

Branded Marketing LLC is trying to combat churn by offering free insurance policies to users of its prepaid cards.

Nearly 30 years after the department store chain set out to become "the largest financial services entity," as its then-chairman put it, Sears is once again challenging banks.

Consumers shouldn't have to choose between access and safety. Beefing up prepaid card protections will send the message that these cards have earned a place in consumers' wallets.

Cool. Hip. Fresh. These words are rarely used to describe traditional retail banking. But that's how some experts have referred to Mango Financial Inc., a start-up targeting underbanked consumers. The company is raising eyebrows with its sleek, colorful flagship store in Austin, a plan to build similar outlets around the country, and a paid-membership model designed to encourage customers to use Mango over the long term.