Underbanked

The benefits include improved financial inclusion, the chairman of the NCUA argues.

Regulators are beginning to recognize the importance of using alternative data to provide credit for the underbanked. Now is the time to expand its use across the industry.

Some legislators and consumer groups want federal regulators to block such alliances. Here’s why that’s a bad idea.

The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.

The region is technologically advanced, but still has a large percentage of underbanked consumers, says PPRO's Javier Vallaure.

These community development-focused banks need tailored regulations to expand their purpose in helping underserved areas.

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”

More than half of U.S. counties lost access to bank branches between 2012 and 2017, with rural counties that have less educated and minority residents especially hurt, the central bank said.

Over the last decade, American voters have proved remarkably receptive to bans on high-cost consumer loans. Next year, a proposed ballot measure in a traditionally red state trending purple will offer a test case for the durability of that consensus.

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

New tech lets American Express instantly issue cards to immigrants; the end of Libor raises concerns about financial stability; regulators shutter banks in Kentucky and Ohio; and more from this week's most-read stories.

Readers react to whether the next presidential debate will discuss banking, how California's financial policies are bleeding into other blue states, suggested reforms to the Community Reinvestment Act and more.

Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.

Even with the FDIC actively encouraging groups to start banks, challenges like raising capital and low interest rates make it tough.

The Jacksonville-based institution is the latest to join the Hispanic-outreach initiative which now serves more than 100 credit unions.

Julieann Thurlow says Reading Cooperative Bank in Massachusetts is well positioned to help immigrants and millennials. Technology is crucial to serving both groups, she says.

It is the bank’s second big gift to the nonprofit Financial Health Network in recent years, with this one earmarked for a financial solutions lab.

Jane Fraser, Citigroup's CEO of Latin America, has helped the bank cut a deal with Mexico's new president that will result in a loss of swipe fees, but may help it gain customers long-term.

Thasunda Duckett, CEO of Chase Consumer Banking, has been a key architect of JPMorgan Chase's massive planned branch expansion.