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Unbanked

FDIC campaigns to get the unbanked to open accounts

by Justin Ho
Apr 7, 2021
Over 7 million Americans don't have bank accounts. One big incentive to opening one: direct deposit of federal relief payments.
There are plenty of reasons why disadvantaged communities might avoid the banking system, but one benefit is the ability to deposit relief money.
Justin Sullivan/Getty Images
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Walmart wants to be your bank

by Kristin Schwab
Jan 12, 2021
It's making a bet that people will want to bank where they already get their groceries, pet care and prescriptions.
Walmart is creating a bank that may strengthen its position in retailing.
Scott Olson/Getty Images
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U.S. households had better bank access in 2019, FDIC says. And then the pandemic happened.

by David Brancaccio , Erika Beras and Alex Schroeder
Oct 20, 2020
A higher unemployment rate and economic turmoil means the number of unbanked households could rise again.
Justin Sullivan/Getty Images
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COVID-19

Those without bank accounts face special challenges during a pandemic

by David Brancaccio and Rose Conlon
Apr 28, 2020
Mastercard has a new plan to make digital banking more accessible.
Mastercard is expanding its program, pledging to get a billion unbanked people and 50 million unbanked very small businesses into the formal financial system within five years.
Damien Meyer/AFP/Getty Images
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The unbanked are saving for more than a rainy day

by David Brancaccio
Feb 7, 2017
Jose Quiñonez, head of the Mission Asset Fund, says hope for an economic turnaround is also helping 'forgotten' Americans survive.
Kristina Zuidema/Flickr
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Advocates for the unbanked worry about the Trump era

by Nancy Marshall-Genzer
Jan 13, 2017
The Obama Treasury Department made financial inclusion a priority. Will Trump?
Steven Mnuchin walks into Trump Tower on December 12, 2016 in New York City. He is President-elect Donald Trump's nominee for treasury secretary.  
Spencer Platt/Getty Images
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In Louisiana, kids learn about balancing the books and paying bills

by Marketplace Contributor
Dec 2, 2016
Last May, Louisiana made financial literacy a mandatory topic in state public schools.
At the Finance Park, a financial literacy simulation in Baton Rouge, middle school students learn the basics of paying bills and taxes, and how to balance a monthly budget.
Jesse Hardman
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Invest in marketplace

Why would a big bank help startups win its customers?

by Mark Garrison
Oct 18, 2016
At Chase, a program aims to back startups creating banking services for the poor.
A Bee salesperson signs up a new customer in Harlem
Mark Garrison / Marketplace
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More Americans come into the banking system

by Mitchell Hartman
Sep 12, 2016
A report from the FDIC shows a decline in the rate of "unbanked" consumers since the recession.
Low-income people are starting to use traditional banks more.
TaxCredits.net
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Bike sharing is increasing, but along income lines

by Marlena Chertock
Nov 21, 2014
Bike-sharing programs in New York City and around Washington, D.C. work on expanding their demographic reach.
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