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Unbanked

Like Payday Loans, Lawsuit Loans Increasingly Coming Under Fire

Sara Warner | Posted 08.20.2014 | Politics
Sara Warner

With civil courts underfunded and litigation increasing, even simple cases are going to take years and years to attain their day in court. And the structure of these loans become truly predatory as the cases linger.

Advancing Financial Inclusion -- One Service at a Time

Gina Harman | Posted 07.24.2014 | Business
Gina Harman

Given the potential for great returns, a flurry of entrepreneurial activity has generated services to cater to individuals who live and work outside the financial mainstream. While not all of this activity is positive, a few promising innovations stand poised to increase financial inclusion in the U.S. and abroad.

Stephanie Raill Jayanandhan: Meeting Our Customers in Brownsville

Significance Labs | Posted 07.23.2014 | Impact
Significance Labs

Going to Brownsville is the highlight of my week, these days. Yes, sometimes I'm afraid. But being afraid isn't an excuse.

Is Targeting the Unbanked Trendy Now Among Big Banks? Chase Pledges $30 MM to Help the Unbanked Build Credit and Assets

Curtis Arnold | Posted 08.18.2014 | Money
Curtis Arnold

While it may seem that this initiative is altruistic in nature, there is little doubt that the unbanked and underbanked represent a large and potentially lucrative market.

We're All Spent and It's Not Our Fault

Lisa J. Servon | Posted 08.17.2014 | Money
Lisa J. Servon

The welfare state has been dismantled, leaving a much greater number of Americans without a safety net. And the further the public sector retreats from the provision of social services, the more the finance industry steps in to "help us" get what we need to get by.

Can a Post Office Be a Bank?

John Harrington | Posted 08.11.2014 | Impact
John Harrington

Instead of privatizing the post office, there may be a better way to raise revenue for the post office by providing financial services for many who need access to credit and short-term capital.

American Express Touts Bluebird and Serve, Financial Products for the Unbanked, with the Debut of the Film "Spent"

Curtis Arnold | Posted 08.06.2014 | Business
Curtis Arnold

The film is part of a larger effort by American Express to not only shed light on the problems with the current financial system but to also promote change - including the development of new technologies and products that inexpensively meet the financial needs of everyone.

Making Banking Work for Everyone

Keith Mestrich | Posted 06.18.2014 | 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 04.20.2014 | 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?