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unbanked

September 28, 2012

One block from my office, a property has been in limbo for four years. The home was foreclosed upon and then subsequently abandoned.

The home had originally been purchased by a buyer that wanted to rent the home.  He apparently gave up

September 27, 2012

The next issue in the housing crisis will be bank walk-aways.

A bank walk-away ("BWA"), also known as the abandoned foreclosure, occurs when a servicer forecloses and then declines to take the risk of owning a house through REO sale. The result - a defaulted property

September 25, 2012

How is prepaid different now that another regulator has flagged a bank for failing to put the right protections in place for their cards?

I think that most people who have read the agreement will conclude that there are two immediate possibilities - neither of which is exclusive of the other. Some will read it to mean that the days of

September 24, 2012

In an agreement published last week, the Office of the Comptroller of the Currency finds that there are violations in business practices at Urban Trust Bank.

The agreement contends that several aspects of banking practices at Urban Trust were neither safe nor sound.

The problems run across several aspects of how Urban Trust operates. According to the OCC, Urban Trust needs to shore up its vendor management. Going forward, Urban Trust has to

September 21, 2012

Republic Bank of Kentucky reports that Jackson Hewitt has notified the bank that they will terminate their agreement for tax products for the upcoming season.

While all parties were working with the knowledge that Republic could no longer offer a refund anticipation loan

September 18, 2012

There is no way to get around the truth: many shareholders are getting ripped off by the compensation committees of Fortune 500 companies.

CEOs defend the pay packages that they have been awarded by compensation committees by arguing

September 17, 2012

When Republic released news that its contract to provide settlement products with Liberty was going to be canceled, it left open the question of Liberty's ultimate intent for the upcoming tax season.

September 14, 2012

The FDIC published the results its triennial survey of the unbanked and underbanked on Tuesday. The main headline was the sheer number of new members of both groups.

I think that more and more people are coming to recognize "unbanked" as a blanket term. This is because

September 13, 2012

Social Finance ("SoFi") says that it has raised $77 million in financing from two venture capitalists to help develop their new student loan product.

The investment came from Baseline Ventures, DCM, and the Chinese social media venture group RenRen.

September 13, 2012

In an agreement published last week, the Office of the Comptroller of the Currency finds that there are violations in business practices at Urban Trust Bank.

The agreement contends that several aspects of banking practices at Urban Trust were neither safe nor sound. According to the OCC, Urban Trust needs to shore up its vendor management. Going forward,

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