Access to Banking Services - Press
By Peter Rudegeair, Emily Glazer, and Ruth Simon
J.P. Morgan Chase & Co. spent about $8 billion this year on technology. But when it came to developing a new online loan for small business, the bank turned to an unlikely outsider.
By John Heltman
BALTIMORE — Even as the smoke was clearing from the riots that erupted in the streets of Baltimore late last month, policymakers zeroed in on the root causes of the unrest in the blighted neighborhoods that were most affected — lack of jobs, lack of opportunity, and a lack of investment.
By Sarah Needleman
7:20 EDT - Amid a slow recovery in US small-business lending, a report out today suggests that small firms in low-income communities are struggling the most. Between 2008 and 2012, small businesses in such neighborhoods in the Chicago metro area received $817M less than their share of overall business credit, reports Woodstock Institute, a nonprofit that analyzed data from Federal Financial Institutions Examination Council, US Census and Department of Housing and Urban Development. "Just like the housing recovery, it's not even," says the study's author, Spencer Cowan. "If we have areas that are not growing, those will slow down the recovery for the entire nation." (firstname.lastname@example.org; @saraheneedleman)
By Herb Weisbaum
Checking accounts—and the debit cards that come with them—should be a simple and straightforward way to handle routine financial transactions. And yet, many people simply don't understand the overdraft policies at their bank or credit union.
By Kevin Wack
For the last four years, U.S. regulators have been requiring banks to offer their customers a choice on overdraft fees. And in response, most consumers have opted not to run the risk of incurring large fees in exchange for the ability to spend more than they have.