CFSI News

Atlanta Journal Constitution: New Model May Benefit Banks, Customers

Jennifer Tescher, President & CEO, paints a picture of what the underserved consumer market in her article New Model May Benefit Banks, Customers. She points out that even while consumers may have access to banks, relevance is lacking. However, a small number of banks ...

Posted: May 2012

CNBC: JPMorgan to Test Low-fee Prepaid Card

by Rachel Schneider

JP Morgan Chase is keeping an eye on the underserved while launching their own branded prepaid card, Chase Liquid. Rachel Schneider, Vice President, Innovation, Research, and Policy, commented that the card could be a good match for customers who cannot afford the monthly ...

Posted: May 2012

New York Times Room for Debate: Banks Are Best Able to Serve Low-Income Customers

CFSI President & CEO,  Jennifer Tescher, along with other industry experts was asked to respond to the question "Are Banks Making Too Much Money From Fees?" Jennifer's basic response had to do with the needs of the consumer and how these ...

Posted: May 2012

Payments Card Center of the Philadelphia Federal Reserve Releases Prepaid Case Study

Given CFSI's efforts to help define prepaid quality, CFSI is highlighting "A Prepaid Case Study: Ready Credit's General-Purpose & Transit-Fare Programs" published by the Payments Card Center of the Philadelphia Federal Reserve. The article provides more information and insights into the development of ...

Posted: April 2012

CNBC: Thompson: A New Compass to Better Guide the Financial Service Industry

by Jane Thompson

Senior Advisor to CFSI, Jane Thompson has endorsed the Compass Principles in a guest blog featured on CNBC. She ties together experiences from her time as President of Walmart Financial Services and shares how the Compass Principles merge with Wal-Mart's philosophy of doing ...

Posted: April 2012

American Banker: Focus Your Mobile Strategy on the Underbanked

by Jennifer Tescher

BY JENNIFER TESCHER and KATE MARSHALL DOLE

Trying to keep up with developments in mobile financial services can be a dizzying prospect. Banks are fearful of being left in the dust, yet they are hesitant to make a big bet on mobile that ...

Posted: April 2012

NWI Times: Financial Ed Advocates Tout Money Smart Week Offerings

Joshua Sledge, Analyst, Innovation and Research, spoke at a news conference in Gary, Indiana in celebration of Money Smart Week, which begins Saturday and runs through April 28. Money Smart Week encouraging promoting financial literacy and connecting people with resources to better ...

Posted: April 2012

MyBankTracker: Goldman Sachs Bets Millions on the Underbanked

While banks are pushing "unprofitable" consumers away, smart investors are putting money on this consumer segment. CFSI strategic partner Core Innovation Capital was mentioned in this article due to their current success of closing $45 million in capital for a new private ...

Posted: April 2012

NYSE Financial Capability Event A Success

On April 13, CFSI had the honor of participating in the New York Stock Exchange's Financial Literacy Week activities. Approximately 50 leaders from across the financial services industry came together to participate in the CFSI led event, "Ensuring Consumers' Financial Success through Innovation ...

Posted: April 2012

NYSE Euronext: CFSI’s Financial Capability Innovation Fund Celebrates Financial Literacy Week

To celebrate Financial Literacy Week (April 9-13), the Center for Financial Services Innovation (CFSI) partnered with the New York Stock Exchange Euronext to host a distinguished panel event, “Ensuring Consumers' Financial Success through Innovation and Technology.” Immediately following the panel discussion, CFSI’s Kimberly Gartner, Vice ...

Posted: April 2012

ISO & Agent: Group Urges Consumer Protection Bureau Action on Prepaid Cards

Consumer Reports advocacy is pushing the Consumer Protection Bureau to take action on prepaid cards. Consumers Union would like to see the bureau apply the same type of protection on prepaid cards that are applied to banks' debit card products, but it ...

Posted: April 2012

American Banker: Prepaid Cards Set Good Example for Simpler Disclosures

by Jennifer Tescher

Prepaid Cards Set Good Example for Simpler Disclosures

Despite all of the new powers at their disposal, regulators continue to emphasize simplified and standardized disclosure as a critical tool to ensure consumers get a fair deal.

By JENNIFER TESCHER and DAVID NEWVILLE

 

The Consumer Financial ...

Posted: March 2012

Market Watch: Core Innovation Capital Closes $45 Million Fund

CFSI strategic partner Core Innovation Capital has closed its $45 million private equity fund that invests in companies committed to improving the financial security of underbanked consumers. Arjan Schütte, Senior Advisor to CFSI comments that Core Innovation Capital has the vision to see ...

Posted: March 2012

Reuters: Treasury Renews Savings Bond Push

The U.S. Department of Treasury is launching the Ready.Save.Grow initiative in response to a growing consumer need for reliable long term savings options. They unveiled a new savings bonds website on March 27 in an attempt to win consumers over to traditional government-issued, ...

Posted: March 2012

Huffington Post: 4 Ways Prepaid Card Vendors Can Help Reduce Consumer Anxiety

The CEO of Plastyc Inc., Patrice Peyret, highlights the Compass Principles in his article 4 Ways Prepaid Card Vendors Can Help Reduce Consumer Anxiety. Three card issuers -- Green Dot, Ready Credit and Plastyc have agreed to test the new disclosure box. In the article, Peyret ...

Posted: March 2012

American Banker: CFSI's Melissa Koide Joins Treasury

Melissa Koide, previous Vice President of Policy with CFSI, has taken a new position with the U.S Department of Treasury. Koide will be serving as a deputy assistant secretary covering financial access, financial education and consumer protection issues. She will also serve as ...

Posted: March 2012

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