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Lawrence Pruss

Recent Posts

Payments and the Underbanked: The Importance of Reaching Millennials

Posted by Lawrence Pruss on Oct 13, 2016 9:00:00 AM

According to the Federal Deposit Insurance Corporation, approximately 27 percent of all American households are unbanked or underbanked – that’s 50 million individuals.

For purposes of this article, unbanked refers to individuals who don’t have a bank account and underbanked refers to those who supplement their bank account with alternative financial services like check cashers. Both underbanked and unbanked households are typically forced to rely on nonbank financial or high-rate lending solutions such as payday lending, tax refund, and settlement loans. They are out of the mix for traditional banks, which means little to no opportunities for payments and fees from them.

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Finding Additional Revenue Sources in the Nation’s Underbanked

Posted by Lawrence Pruss on Aug 18, 2016 9:00:00 AM

According to the Federal Deposit Insurance Corporation, approximately 27 percent of all American households are unbanked or underbanked – that’s 50 million individuals.

For purposes of this article, unbanked refers to individuals who don’t have a bank account and underbanked refers to those who supplement their bank account with alternative financial services like check cashers. Both underbanked and unbanked households are typically forced to rely on nonbank financial or high-rate lending solutions such as payday lending, tax refund, and settlement loans.

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Enhancing Profitability to Prepare for New Capital Rules

Posted by Lawrence Pruss on Mar 24, 2016 9:00:00 AM

According to new National Credit Union Administration rules, before 2019, many credit unions will need to significantly increase their capital to adequate levels.

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Lights, Camera, Corporate Selfie?

Posted by Lawrence Pruss on Dec 2, 2015 9:00:00 AM

MEMPHIS, Tenn., December 2, 2015 – Videos are becoming a critical part of the online identities for many companies. For financial institutions (FIs), the questions of the day are both “could” or “should” they make use of online videos.

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