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Underbanked

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.

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.

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.

Warren's Post Office Proposal: Palast Aims at the Wrong Target

Ellen Brown | Posted 05.18.2014 | Business
Ellen Brown

Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Senator Elizabeth Warren's support of postal financial services, he has done a serious disservice to the underdogs.

What We Could Do With a Postal Savings Bank: Infrastructure That Doesn't Cost Taxpayers a Dime

Ellen Brown | Posted 09.23.2013 | Business
Ellen Brown

The U.S. Postal Service (USPS) is the nation's second largest civilian employer after Walmart. Although successfully self-funded throughout its long h...

"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).

Are Some of Your Customers Left Behind by Their Bank? Help Them

Patrice Peyret | Posted 08.13.2013 | Business
Patrice Peyret

The federal is deficit going down. The Dow Jones is at an all-time high. The consumer confidence index is inching back up. For business owners, everyt...

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...

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...

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

Americans Love Convenience More Than They Hate Bank Fees

HuffingtonPost.com | Catherine New | Posted 06.21.2012 | Money

Have you ever paid slightly more in ATM fees just because you were too lazy to cross the street to visit a bank with cheaper rates? You're not alone. ...

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...

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

This Man Has Not Had A Bank Account In 14 Years

HuffingtonPost.com | Catherine New | Posted 05.07.2012 | Money

Josh Crawford, 42, of Squaw Valley, Calif., has not had a checking account or credit card in 14 years. But that has not stopped him from participating...

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...

Reuters Analysis: Boost In Big Bank Fees Could Push Consumers To Turn To Alternative Lenders

Posted 12.17.2011 | Business

Alternative finance firms, from credit unions to online and pawn lenders, are gaining traction as banks turn off the tap for easy cash and start c...

The Psychology of Saving (Especially When You're Broke)

Patrice Peyret | Posted 11.19.2011 | Business
Patrice Peyret

What's needed are new options that help lower-income earners nudge themselves in the right direction by making it a subconscious habit to tuck money away.

The beginning of the end for abusive payday loans?

Patrice Peyret | Posted 05.25.2011 | Business
Patrice Peyret

Gary Rivlin's book "Broke USA" describes Sandra Harris, an accounting technician who borrowed $200 from a payday lender to pay her car insurance afte...

Does Everything Require Stimulus?

Jerry R. Welch | Posted 05.25.2011 | Business
Jerry R. Welch

Rather than treat the unbanked and underbanked as second class citizens, the prepaid card industry is listening to their needs.

End of Free Checking a Financial Squeeze: How Employers Can Help

Clare J. Morgan | Posted 05.25.2011 | Business
Clare J. Morgan

The free checking accounts many Americans enjoy will soon be a thing of the past as banks scramble to find new ways to recoup overdraft charges and other fees they're no longer allowed to impose.