The underbanked rely on mobile access more than online or in-person contact. Therefore, the U.S. must follow developing countries’ leads and let consumers sign up for mobile-only accounts.
President Trump’s proposed cuts to programs providing credit options for low-income and underserved communities would have a particularly negative effect in states that voted for him.
Devon Bank in Chicago has a long history serving immigrant groups in one of the nation's most diverse neighborhoods. Right now, its clients are worried about President Trump's actions on immigration and deportation.
When one considers the available data on bank lending, there is a lot more to the story. The solid loan growth at commercial banks in recent years has been concentrated in some of the sectors that appear least in need of credit.
Startups in the payday lending space say their use of artificial intelligence is allowing them to make better loans at lower rates with fewer defaults.
Quona Capital Management raised $141 million for the Accion Frontier Inclusion Fund, which will invest in companies that provide financial and other services to underserved customers in emerging markets.
The retailer is set to announce Tuesday that it is updating its app to allow its customers to input money transfer information electronically rather than having to fill out paperwork in the store.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
