Vince Cable Quotes

Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.

There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.

Two-thirds of the world's population is unbanked or underbanked. Imagine if you had all your bank accounts shut down today, if you had all your credit cards shut off today, Paypal, Venmo, etc. What would life be like? And that's a problem that most of the world faces if you're in Latin America, Africa or South East Asia.

They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.

I think that people need to become more educated about money. We need to stop creating systems that benefit only the most-cutthroat sharks.

Banks can't recoup the costs of serving customers who save in small amounts and transact frequently.

Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.

Making loans accessible to millions of the previously unbankable customers is a noble goal. Getting them hooked to such loans isn't.

My financial service business is the absolute best thing I have done to empower the poor. I run many charities and fight many political causes, but my financial service company is the greatest gift I've given.

We're providing planning to a huge audience who's never had access to financial planners before. This was always my plan for LearnVest. It was in my very first pitch deck.

We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.

If women had better access to the financial system - even so much as a basic deposit account at a bank - it would be a major step in the direction of greater wealth and greater economic empowerment.

At LearnVest, we're working to make financial planning both accessible and affordable so that everyone has the opportunity to get on track financially.

Money is kind of a base subject. Like water, food, air and housing, it affects everything yet for some reason the world of academics thinks it's a subject below their social standing.

Before the arrival of the Credit Union, people who were from the poor background or a working class background couldn't borrow from banks.

With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans who don't have basic banking services because there are almost no banks or bank branches in their neighborhoods.

It is certainly for the public good to keep all the banks competitors for our favors by a judicious distribution of them and thus to engage the individuals who belong to them in support of the reformed order of things or at least in an acquiescence under it.

There's an awful lot of us who don't quite speak finance, speak money.

We're trying to improve the consumer financial marketplace one American at a time.

Community banks are a crucial part of our economy and the fabric of our society.

We're trying to democratise financial services, to ensure that management and movement of money is a right for all citizens, not the privilege of the affluent.

We believe digital payments are making financial services more universally affordable, accessible and, therefore, have the opportunity to drive financial inclusion and financial health for billions worldwide.

No one can say that democratizing financial services is bad. It is good for communities, countries, the global economy, and educational progress.

Full financial citizenship means more than just a savings account and a way to transfer money and pay bills. It also requires access to credit along with the ability to accept payments and run a business, send money to family or transact business across borders, contribute to the community and help others in need, and invest for the future.

My job at the CFPB, as President Obama told me when he interviewed me, was to stand on the side of people in the financial marketplace and see that they were treated fairly.