underbanked

Bye plastic, BofA's digital agenda, Fed’s big-bank supervision revamp: Top stories of the week

11/02/18

Synchrony CEO Margaret Keane says plastic cards will be gone in five years; David Tyrie is succeeding the high-profile Michelle Moore as BofA's digital chief; Fed outlines a new approach for its post-crisis supervisory program; and more from this week's most-read stories.

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Congressional Black Caucus members urge Fed action on faster payments

10/30/18

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

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I know what it feels like to be unbanked

10/29/18

Despite improvements in the proportion of consumers without a bank account, there is still work to do to bring more Americans into the banking system, argues FDIC Chairman Jelena McWilliams.

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Bill Gates funds research to spur banks to innovate for the poor

10/26/18

The Human Account, a survey of 11,500 people, is intended to inspire banks and governments to come up with better ways to help low-income people.

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There are fewer unbanked, but still too many: FDIC

10/23/18

The agency’s biennial survey showed gradual improvement in access to mainstream banks, but over 14 million adults lack ties to a federally insured institution.

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Banks should measure their social impact

10/16/18

As financial institutions struggle to regain public trust, they need to find more systematic ways to gauge how their work impacts consumers and communities.

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Few answers for Netspend customers unable to access paychecks

10/16/18

Neither the prepaid issuer nor its bank partner can say when cardholders — many living paycheck to paycheck — will receive their funds.

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Fed 'listens' to assess impact of rural branch closings

10/04/18

The central bank’s top regulatory official discussed how the Fed is using listening sessions in isolated communities to understand the effect of losing the one bank in town.

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Fee-fighting app expands into savings, money management

10/02/18

Truebill, which started as a subscription management app and grew into one targeting bank fees, is now offering automated savings and financial management.

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Startup lender Petal launches its subprime credit card

10/02/18

The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay.

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