Topics  |  Consumer Credit

CFSI is proud to have partnered with PERC on their latest research report, “Fully Reporting Nonfinancial Payment Data: Impact on Customer Payment Behavior and Furnisher Costs and Benefits.” The report surveyed 70 telecommunications and utilities companies and over 1,000 ...

Having recognized the great opportunity underbanked consumers represent for financial services, participants at the Third Annual Underbanked Financial Services Forum turned their attention to better understanding this potential market. The forum, presented by SourceMedia in conjunction with the Center ...

A dramatic series of events related to small-dollar value, short-term credit has unfolded over the last 18 months. Legislators, regulators, and the financial services industry have been closely scrutinizing the payday loan industry and creating market incentives for private-sector innovation. ...

The purpose of the study was to conduct a segmentation analysis of underbanked and unbanked consumers based on attitudes, behaviors and experiences relative to both formal and informal financial services, products, and institutions.  Four industry leaders co-sponsored the study ...

As many as 70 million adults in the United States have no credit score or a limited credit history with the traditional credit bureaus. These consumers represent an important opportunity for lenders to access a new market. But without the ...

Federal regulators first required credit card disclosures in 1968 as a way to help consumers make better-informed decisions about using their cards. But several indicators suggest that disclosures have not been fulfilling their intended purpose. Revolving debt is up, ...

Cardholders who fail to make on-time payments and subsequently fall delinquent on their accounts not only jeopardize their own credit ratings but also cause financial losses for card issuers. To test whether early intervention, such as reminder calls, mailings, and ...

Faced with poor credit, many consumers find themselves borrowing from friends and family. CircleLending is a specialty loan administration company that has pioneered the market for managing private loans between relatives and friends. The company helps borrowers to access affordable ...

One important barrier for millions of individuals entering the credit market is that they have no file with one of the three major credit bureaus or a “thin-file” that makes it impossible to calculate a credit score. Commensurate with ...

With consumer debt levels at an all-time high and the credit card and mortgage markets heavily saturated, the financial services industry has begun to turn its attention to the vast untapped pool of consumers who have minimal credit histories but ...

The Retail Financial Services Initiative (RFSI) is a three-year project organized by NCIF that seeks to increase the quantity and quality of financial services for unbanked and low- to moderate-income consumers. Starting in October 2003, a group of banks and ...