After years of being two separate product lines, prepaid card accounts and checking accounts are merging into a single new offering.
If you saw a check cashing store, a corner store loaded with pre-debit cards for sale, a Rent-A-Center and a payday loan facility, would you think you were in Beverly Hills? Of course not! The answer lies in the basic premise of capitalism -- go where you can "capitalize" on opportunity.
Your Social Security check will no longer come via snail mail starting March 1. In less than two months, the government will stop sending paper ch...
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...
In August, the Federal Reserve imposed a cap on the fees banks can charge retailers every time customers swipe their debit cards. Why is that important? In addition to banks, consumers may be the biggest losers.
Payday lending has been denounced as "a scourge on vulnerable citizens" and condemned as "modern day usury." So why do some state legislators want to introduce these predatory financial products to NY?
WASHINGTON -- Wall Street banks are deploying little-known lobbying organizations who represent companies like Pizza Hut and Radio Shack in a new push...
Haphazard and possibly illegal practices at mortgage-servicing companies have called into question home foreclosures across the nation. The latest disclosures are deeply troubling.
NEW YORK (AP, Candice Choi) -- The nickel-and-diming never stopped. The fees were constant: $28 to cash a paycheck. $1.50 for a money order. A doll...
Montana voters on Tuesday approved a ballot initiative to cap interest rates on short-term credit at 36 percent, effectively banning payday loans -- p...
Nonprofit Microlending is based on trust. For profit lending is not. This is a huge difference, and it's possible the latter could turn into a repeat of the villager loan shark mode
$1.6 billion of interest, excessive fees, and other exorbitant costs are being charged to poor people every single day, making it almost physically and fiscally impossible for individuals to exit the poverty cycle.
When Republicans talk about freedom, they don't mean the freedom to be able to drink clean water piped into your home. When they talk about freedom, they don't mean a job that pays enough to live on.
In recent years, most of the consumer financial innovations have been largely about getting ordinary people to borrow at pricing structures that they don't completely understand.
Rather than treat the unbanked and underbanked as second class citizens, the prepaid card industry is listening to their needs.
WASHINGTON -- While much of the Congressional debate over consumer financial protection has focused on banks, lawmakers have been grappling behind the...
With an economy that is in a recession that feels like a depression in many cities across the country ... the sharks (financial predators) are in the water.
For years, the country's makeshift network of payday lenders and check cashers has operated with little competition or federal regulation. ...
A few of the nation's largest banks -- including Minneapolis-based U.S. Bancorp, Wells Fargo & Co. of San Francisco, and Fifth Third Bancorp of Cincin...
We need to make communities strong again. Our local money does not need to be mixed in with some guy's hedge fund abstract tranche of nothing all to make a fee for some banker in New York.
