| Industry Data |
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| Ernst & Young National Study Confirms Pricing of Payday Loans is Fair and Reasonable October 2009 |
| FDIC National Survey: 25.6% of ALL U.S. households are either unbanked or underbanked. February 2009 |
2011 NEWSLETTERS: |
February 01, 2011
January 04, 2011
June 13, 2011
Knowing the size of the unbanked and underbanked population in your community is helpful in understanding the needs of your local market with this helpful interactive tool: Read more.... The Pew Charitable Trust has released an interesting map on the "unbanked" Read more.... A new report from the Center for Financial Services Innovation and Core Innovation Capital asserts that consumers with minimal relationship with financial institutions nonetheless generated roughly $45 billion in fee and interest income in 2010. Read more.... A closer look at America's Underbanked by BBV Read more.... Moebs Study Urges CUs to Go Toe-to-Toe With Payday Lenders Read more.... Hearing entitled "An Examination of the Availability of Credit for Consumers" Read more.... Here's What A World Without Subprime Loans Looks Like Read more.... KPMG Study: "Underserved" Market Represents Growth for Banks Read more.... CFSI Announces Results from the inaugural "Underbanked Industry Scan" Read more.... Study: For some a prepaid card can be better deal than a checking account Read more.... The Federal Reserve Bank has issued a report by a senior economist supporting some of the payday loan industry's long-standing contentions that short-term, high- interest loans bring benefits to low-income populations. Read more.... A Portrait of Older Underbanked and Unbanked Consumers: Findings from a National Survey Read more.. Fed economist Kelly D. Edmiston states in a NEW REPORT; “In states that ban or restrict payday loans, consumers are harmed” Read more.... Read the report "The Truth About the Underbanked" American Banker Magazine Read more.. The University of Virginia Darden School of Business and Tayloe Murphy Center released the findings of a major study yesterday that outlines specific steps for how banks and credit unions can capture billions of dollars in deposits by reaching out to Latino and other “unbanked” households across the United States. Lost in Translation Study: New Underbanked Stats for Prepaid Read more.. To Serve the Underbanked, Emulate Retailers Read more.. Underbanked Consumers: Not Who You Think They Are Read more.. Low-income families use costly check-cashing and loan services not because they lack access to banks, but because they lack knowledge of banking options and their advantages, according to a study by the University of Massachusetts Dartmouth Read more.... According to Mississippi Department of Banking and Consumer Finance commissioner John Allison. “In a depressed area, there are no more payday lenders than in an area that is economically viable,” he said. Read more.... The “underserved” market is considered one of the fastest growing segments in the United States and represents significant potential for banks willing to develop new products and services — with the appropriate risk safeguards — and channels to distribute them, according to a recent study from KPMG LLP, the U.S. audit, tax and advisory firm. Read more.... |
View this video from CNBC on the industry:
"The payday lending industry is serving a growing segment of middle- income Americans who need credit and can't get it elsewhere." "The State of the Short-Term Lending Industry" From the OnlineLendersAlliance Leadership & Innovation Conference: 2011 http://clearpointanalytics.com/whitepapers/State%20of%20the%20Short-Term% 20Lending.pdf "How Should We Serve the Short-Term Credit Needs of Low-Income Consumers?" Presented at the Harvard Joint Center on Housing Symposium http://cfsinnovation.com/node/44050 "Who doesn't use banks", all details in one INTERACTIVE map! http://www.pewtrusts.org/our_work_report_detail.aspx?id=85899365577 Fees and the Unbanked How Your State Compares with the Nation http://www.pewtrusts. org/uploadedFiles/wwwpewtrustsorg/Reports/Safe_Checking_in_the_Elect ronic_Age/50States_Web_full.pdf 2010 Underbanked Market Size http://cfsinnovation.com/system/files/09-11,%20Marketscan_final.pdf FDIC study: 25.6% of ALL US households are unbanked or underbanked. http://www.economicinclusion.gov/ Not Unbanked: Untapped. Underserved Spend $45B On Financial Services http://finance.yahoo.com/news/Not-Unbanked-Untapped-xfoftp-1037589943.html This first edition of the CFPB Supervision and Examination Manual is a guide to how the CFPB will supervise and examine consumer financial service providers under its jurisdiction for compliance with Federal consumer financial law http://www.consumerfinance.gov/guidance/supervision/manual/ Moebs Study Urges CUs to Go Toe-to-Toe With Payday Lenders http://www.cutimes.com/2011/09/14/moebs-study-urges-cus-to-go-toe-to-toe-with- payday Hearing entitled "An Examination of the Availability of Credit for Consumers" http://financialservices.house.gov/Calendar/EventSingle.aspx?EventID=260305 The Federal Reserve Bank has issued a report by a senior economist supporting some of the payday loan industry's long-standing contentions that short-term, high- interest loans bring benefits to low-income populations. http://www.americanbanker.com/magazine/121_7/kansas-city-feds-case-for-payday- loans-1039318-1.html?zkPrintable=true A Portrait of Older Underbanked and Unbanked Consumers: Findings from a National Survey http://www.aarp.org/money/credit-loans-debt/info-09-2010/D19394.html The University of Virginia Darden School of Business and Tayloe Murphy Center released the findings of a major study yesterday that outlines specific steps for how banks and credit unions can capture billions of dollars in deposits by reaching out to Latino and other “unbanked” households across the United States. The Opportunity in Financial Services for Latinos http://www.darden.virginia. edu/web/uploadedFiles/Darden/Tayloe_Murphy_Center/Research/LatinoReport.pdf Fed economist Kelly D. Edmiston states in a NEW REPORT; “In states that ban or restrict payday loans, consumers are harmed” http://www.kansascityfed.org/publicat/econrev/pdf/11q1Edmiston.pdf Low-income families use costly check-cashing and loan services not because they lack access to banks, but because they lack knowledge of banking options and their advantages, according to a study by the University of Massachusetts Dartmouth http://articles.boston.com/2011-07-06/business/29744008_1_bank-accounts- convenient-hours-and-locations-check-cashing-services Financial Capability: What is It, and How Can It Be Created? http://csd.wustl.edu/Publications/Documents/WP10-17.pdf |
2012 NEWSLETTERS: |