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July 9, 2012

Clarity Services, a non-prime credit service firm, has released an interesting white paper about the demographics of the consumers that use payday loans. Clarity's report uses survey data from

July 2, 2012

According to Core Innovation Capital, the under-banked spend $45 billion every year on financial services. Those "spends" include:

June 29, 2012

This is expensive: H&R Block awarded a severance payment of $875,000 to departing senior executive last week. Philip Mazzini was formerly the president of retail services. However, the

June 28, 2012

I am now the owner of a PayPower Visa prepaid card. For the next few weeks I am going to test it out and see how much it actually costs to operate the card.

The card is issued by MetaBank. It loads through the ReLoadit network. In North Carolina, that

June 27, 2012

H&R Block's review of its performance in the last quarter shows how a tax preparer can use a prepaid debit card to greatly enhance its overall business.

Yesterday's report was the first time that investors heard about how well the company did during

June 26, 2012

A new filing from the University of Phoenix (ticker: APOL) suggests that student default rates at the nation's largest university are surging to a level that could endanger the ongoing viability of the company.

The federal government will cease to offer Pell Grants and some loans to students at colleges and

June 25, 2012

For the last two decades, underwriting has been driven by credit scoring. The ingredients that influence a credit score have been fairly static for some time. They depend upon the utilization of credit, your repayment history, the types of credit that you have already, the length that you have kept those accounts open, and how recently you have opened other credit accounts.

That approach may soon change.

June 20, 2012

Payday Lending is Different. Payday Lending is for Buying Tires

Are you surprised by the number of payday lenders report that their demand comes from people that need new tires?

  • A1CashAdvance advertises that a payday loan will help with "New tires for inspection
June 19, 2012
  1. Eleven percent of consumers made a mobile payment in 2011.
  2. Demographics say that the future of banking is mobile. People aged 18 to 29 are three and
June 18, 2012

One of the themes of from last week's Underbanked Financial Services Forum in San Francisco was the emerging relationship between social media and consumer finance.

More than a few startups are trying to use the social networks of consumers to help make better