In an op-ed published in American Banker today, FDIC Chairman Jelena McWilliams noted the importance of bringing underbanked and unbanked consumers into the regulated banking system.
The share of U.S. households that are unbanked continued falling in 2017, reaching 6.5 percent, according to the FDIC’s biennial survey of unbanked and underbanked households released today. Representing the lowest rate yet recorded by the FDIC survey, the drop is attributed to improvements in the socioeconomic circumstances of U.S. households. However, the survey also
The ABA Foundation has recognized six banks for their outstanding commitment to their communities. The ABA Community Commitment Awards — to be presented on Oct. 23 during ABA’s Annual Convention in New York — are given in six categories to honor innovative, high-impact bank programs and projects that produce lasting results in the communities they
These award-winning bankers take on a growing prison population by promoting financial literacy training.
The ABA Foundation has recognized six banks for their outstanding commitment to their communities.
The FDIC today released the third installment of its guide to affordable single-family home loan programs, which collects information about programs to expand access to affordable mortgage credit, including programs targeted in rural and low- and moderate-income communities and to Native Americans and veterans.
The Consumer Financial Protection Bureau is seeking feedback on the benefits and risks of using alternative data sources — such as mobile phone bills and rent payments — to help consumers establish a credit history.
Banks across the country are increasing access to tax support services and extending the benefits of EITC.
Income is a significant factor in determining whether or not consumers use traditional banking and payment services, according to a recent study by researchers at the Federal Reserve Bank of Boston.