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Chase LiquidMega-Bank Hedges its Position with Prepaid OfferingAfter years of pricing policies that seemed to keep a lot of Americans outside the banking mainstream, the mega-bank JPMorgan Chase has unveiled a new prepaid debit card, the Chase Liquid Visa, specifically developed for folks who prefer not to keep bank accounts. Part of its strategy: underprice the competition. 
Payday Lender Postpones IPOWas Under Fire for Loans Issued on Prepaid CardsExecs at Community Choice Financial point to "combination" of factors forcing the delay. One of those factors may have been a recent assault by consumer, community and civil rights groups complaining that its CheckSmart payday lending unit is skirting state usury laws by disbursing funds via a prepaid debit card. The groups want federal regulators to put the kibosh on CheckSmart, which is making payday loans at an effective APR of 390%. .jpg)
Half the World is UnbankedNew World Bank Report Reveals Sharp DisparitiesThe World Bank has released its first-ever database on financial inclusion and reveals that half the world's adults are unbanked. Not surprisingly, the data shows wide variations, both domestically and internationally. For example, adults in developed countries are twice as likely to have bank accounts as those in developing nations. And in most countries, more men have bank accounts than do women. The Inside ScoopIFC, MasterCard Help Bank Africans$37.4 million will help reach 5.3 in Sub-Sahara Advancing Financial Inclusion for NigeriansPartnership working on innovative savings program for women Lemonade Day Debuts in ChicagoFree, annual program teaches entreprenuership Do Microlenders Play Favorites?Study finds preference for light-skinned African women Creating Mobile Options for UnbankedCGAP, Grameen, MTN Uganda behind latest effort Inside MicroPaymentsMoney Transmitter Shop in a BoxNew white label offering from Obopay Prepaid Finds its NicheThose who are young and underserved BET Unveils Card-based Alternative for Un/UnderbankedNew prepaid MasterCard targets African Americans H&R Block Taps Wipit to Reach UnderbankedAdds to frenzie of mobile payments initiatives Online and Unbanked? No ProblemMoneyGram, Western Union, offer new cash options for online shoppers |
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