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Unbanked

Making Banking Work for Everyone

Keith Mestrich | Posted 04.18.2014 | Money
Keith Mestrich

Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.

Lobbying by Stealth

Jim Jaffe | Posted 02.18.2014 | Politics
Jim Jaffe

The quiet lobbying game works best when no one looks carefully at the sausage-making machinery. It offers a stark contrast to the money game where contributors present themselves as 800-pound gorillas who are willing to spend as much as it takes to make things happen their way.

Bitcoins and Financial Inclusion: Not Much of a Link for Now

Tilman Ehrbeck | Posted 03.26.2014 | Impact
Tilman Ehrbeck

Beyond being digital, what does Bitcoin have in common with electronic money and financial inclusion generally? At this point, there seem to be more differences than similarities and it's important not to conflate electronic money with the virtual currency.

Half Of The World's Adults Don't Have A Bank Account

Reuters | Posted 02.08.2014 | Business

* New technology allows big banks to target the poor * More than 2.5 bln people do not have bank account * Achieving sca...

"Alternative Financing": An Unnecessary Evil or a Key Service for the Underbanked?

Gina Harman | Posted 10.19.2013 | Business
Gina Harman

It's important when participating in this conversation to understand who the underbanked are. And alarmingly, according to the 2011 FDIC National Survey of Unbanked and Underbanked Households, they are 1 in 5 households in the U.S. (20.1 percent).

Preserving Community Banks Should Be Bi-Partisan Priority

Tanya D. Marsh | Posted 09.15.2013 | Business
Tanya D. Marsh

The regulatory framework for financial institutions in the United States, including many provisions of Dodd-Frank, impose significant costs on community banks without providing benefits to consumers or the economy that justify those costs.

Solving Poverty: Atlanta in Black and Green, the Tale of Two Cities

John Hope Bryant | Posted 06.22.2013 | Black Voices
John Hope Bryant

Whether you are white, black, red, brown or yellow, today you just want to see some more green. U.S. currency, that is. We are all in this mess together.

The Shocking Truth About Unbanked Immigrants

AP | By DEEPTI HAJELA | Posted 06.19.2013 | Business

NEW YORK (AP) — A study of members of some of New York City's fastest-growing immigrant communities finds that their banking patterns can be very di...

Catherine New

Bank Fees Are Bad For The Economy

HuffingtonPost.com | Catherine New | Posted 02.21.2013 | Business

Bank fees are not just bad for consumers, they're bad for the economy. A growing number of Americans are unable to afford a bank account -- a situ...

10 States that Gouge the Unemployed (and the Existing Solution)

Adam Levin | Posted 04.17.2013 | Politics
Adam Levin

If you take a look at the way the following states allow unemployment benefits to be nickeled and dimed by megabank prepaid card programs you will see why it's time to change the system.

Helping the 'Unbanked' Get Affordable Financial Services

Jason Alderman | Posted 03.11.2013 | Business
Jason Alderman

According to a recent survey by the Federal Deposit Insurance Corp. (FDIC) and the U.S. Census Bureau, 17 million American adults now live in "unbanke...

6 Loans You Can Actually Get & How to Use Them

Credit.com | Posted 03.06.2013 | Money
Credit.com

By Mitchell D. Weiss There are lots of cash-strapped consumers out there who, for all practical purposes, are closed out of many traditional credit p...

Walmart's Latest Move

AP | Posted 10.08.2012 | Money

BENTONVILLE, Ark. — Wal-Mart Stores and American Express are teaming up on a reloadable prepaid card for shoppers. The two companies said Monday ...

Catherine New

The Troubling Reason Single Moms Can't Break Out Of Poverty

HuffingtonPost.com | Catherine New | Posted 09.13.2012 | Money

Nearly half of households headed up by a single mom don't regularly use a bank account and rely on pricey alternative financial services, according to...

Catherine New

Check Cashiers: Unlikely Hero For The Poor

HuffingtonPost.com | Catherine New | Posted 08.29.2012 | Money

NEW YORK -- On a recent summer morning at a noisy South Bronx intersection, a man walked into RiteCheck, a check cashing store, to use the ATM machine...

Prepaids Aren't Just For The Poor...

SmartMoney | CHARLES PASSY | Posted 08.22.2012 | Money

SmartMoney: Is the prepaid debit card moving upmarket? In recent months, major financial institutions such as American Express and J.P. Morgan C...

Catherine New

New Credit Score Aims To Bring More People Into Lending Fold

HuffingtonPost.com | Catherine New | Posted 06.14.2012 | Money

The poorest consumers, currently living off the financial grid, may soon be pulled back onto it in an unexpected way. Experian, a data collection a...

Money Management: What's a Bank Account For?

Elisabeth Rhyne | Posted 08.13.2012 | Money
Elisabeth Rhyne

The bank account as the central money management tool is simply not relevant for many low income people. If we want to assist people in their efforts to be competent money managers, what is the best mix of services?

Khadeeja Safdar

Meet The Banker Without A Bank Account

HuffingtonPost.com | Khadeeja Safdar | Posted 06.07.2012 | Money

Have you ever heard of a banker with no bank account? Joel Lawton, a Texas-based mortgage banker with no checking or savings account, is just one o...

Catherine New

CFPB Looks To Make Rules For Prepaid Cards

HuffingtonPost.com | Catherine New | Posted 05.23.2012 | Money

The government's top consumer sheriff wants to rein in the Wild West of prepaid cards, even as some of the biggest players in the financial industry m...

No Bank Account? No Problem

AP | ANNE D'INNOCENZIO | Posted 06.26.2012 | Money

NEW YORK — Wal-Mart shoppers now will be able to pay cash for online purchases. The world's largest retailer on Thursday said it will allow sho...

Bank Prepaid Cards: Silo or Suite?

Dory Rand | Posted 06.26.2012 | Money
Dory Rand

Imagine Gail, a 30-year-old mother of two school-age children. Gail is on ChexSystems and has a low credit score as the result of actions taken by an ...

Most Of The World's Poor Do Not Have A Bank Account

The Huffington Post | Bonnie Kavoussi | Posted 04.19.2012 | Money

More than 2.5 billion people -- or half of all adults around the world -- are "unbanked," meaning they don't have a bank account, according to data re...

Janell Ross

In South Carolina Some Tax Refunds Will Be Shared With A Big Bank

HuffingtonPost.com | Janell Ross | Posted 02.28.2012 | Business

This year South Carolina income tax refunds will arrive on prepaid debit cards unless taxpayers specifically opt for a check or direct deposit. The...

Catherine New

Fee-Dependent Prepaid Card Maker Moves Into Banking

HuffingtonPost.com | Catherine New | Posted 11.29.2011 | Business

In the latest signal that the economic crisis has fundamentally changed the way Americans handle their money, the largest provider of prepaid debit ca...