Over the past decade, millions of American households have turned to prepaid cards to spend, save, and manage their money.

An increasing number of Americans are turning to nontraditional credit sources for quick access to cash.

The United States financially underserved market generated $89 billion in fees and interest in 2012, representing growth of 8% from $82 billion in 2011.

For eight years, the Financial Health Network has championed innovative strategies for meeting the needs of underbanked consumers

The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base.

Electronic payments are growing by leaps and bounds,overtaking paper as preferred payment mechanisms.

Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.

Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.

Increasingly, underserved Americans are turning to prepaid cards to meet their basic financial services needs.

The Financial Health Network is submitting this letter in response to the request for comment by the Consumer Financial Protection Bureau on May 24, 2012.

The products and services that cater to the needs of financially underserved consumers are big business.

More than 600 participants gathered at the Sixth Annual Underbanked Financial Services Forum to discuss the future of the marketplace for the underbanked.

Although underbanked consumers in the U.S. often have insufficient access to financial services, their access to mobile phones is fairly widespread.

Underbanked consumers need minute-to-minute information about their finances, and mobile financial services (MFS) are well suited to deliver it.

The financial crisis and economic downturn have reshaped the financial services landscape.

The need for new ideas to improve Americans’ financial capability has been evident throughout the recent recession.

In 2010, the Financial Health Network launched its largest effort yet to catalog all existing financial products and services aimed at the underbanked population: the Underbanked Industry Scan.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

Young adults entering the work force and managing wages for the first time today face a financial services marketplace that is markedly more complex than the one their parents first encountered as young adults.

As this year’s Forum made clear, the underbanked financial services industry is in a period of progress.

The current economy has spawned renewed examination of the market potential for secured credit cards.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

The recent financial crisis has revealed that Americans at all income levels exhibit difficulty in managing their finances and are ill-prepared to weather economic stresses.

This paper outlines some of the major themes which emerged during Fourth Annual Underbanked Financial Services Forum, in 2009, inlcuding an exploration of the heterogeneity of underbanked market segments

In the face of today’s economic crisis, Americans have started saving again. And while saving could be a short-lived response to the crisis, the current impetus to save has created an opportunity for financial services organizations to lead the way in encouraging saving, especially those institutions targeting financially underserved consumers.

The Financial Health Network has conducted an investigation into the amounts that prepaid cardholders spend each month to conduct essential financial transactions, and compared that to the amounts that they would spend if they remained underbanked or used checking accounts for the majority of their transactions instead.

Millions of lower-income consumers lack access to high-quality financial products and services that simultaneously meet their short-term needs and prepare them for long-term financial success.

Gain insights from this third annual event, including the importance of building relationships, understanding the underbanked market, and increasing our conversations around saving.

Learn how the increased scrutiny recently placed on the payday loan industry has underscored the need for innovation and motivated financial services providers to develop solutions.

At this second annual event, attendees learned how to reach out to unbanked and underbanked consumers using various methods, including prepaid cards, remittances, credit scoring, and small-dollar loans.

Being “credit underserved” can have many unfortunate consequences. Learn how companies are designing new strategies that assess creditworthiness in innovative ways.

This research paper explores the mismatch between the consumer needs of low-wage immigrant unbanked and underbanked populations and existing financial products and vendor strategies.

This event underscored the business opportunities inherent in serving the underbanked market and identified opportunities to help move consumers along a pathway to savings.

This report addresses the extent to which traditional affinity marketing models apply to underbanked segments while exploring the nonprofit community's role in marketing and distributing financial services.

Discover the potential of HR outsourcers, payroll companies, worksite marketing firms, and other intermediaries to provide distribution and marketing opportunities for financial services.

This paper explores opportunities for using the moment of tax preparation to bridge the gap between the financial needs of underbanked consumers and services that can meet those needs.

This paper discusses the implications of stored value cards for unbanked and underbanked consumers, exploring positive effects such as the potential to build assets and improve credit records.

Learn why an inclusive financial system is important, who the underbanked are and what keeps them out of the mainstream, and what the government and private sector can do about this problem.

Learn key findings about retail locations in which consumers can access financial services, including the impact of ATMs, point of sale and kiosk technology, and reloadable stored value cards.