The proportion of "unbanked" households is lowest since 2009, FDIC finds

Oct 26, 2022
The government agency that supervises banking institutions defines "unbanked" households as ones where no one has a checking or savings account. Here's why there are fewer of them now.
Among the reasons people are opening bank accounts is government stimulus during the pandemic.
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FDIC campaigns to get the unbanked to open accounts

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.
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Walmart wants to be your bank

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.
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U.S. households had better bank access in 2019, FDIC says. And then the pandemic happened.

A higher unemployment rate and economic turmoil means the number of unbanked households could rise again.
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Those without bank accounts face special challenges during a pandemic

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.
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The unbanked are saving for more than a rainy day

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

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.

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In Louisiana, kids learn about balancing the books and paying bills

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

Why would a big bank help startups win its customers?

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
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More Americans come into the banking system

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.