FDIC to Release Updated Numbers on Underbanked

The Federal Deposit Insurance Corp. (FDIC) is preparing to release the latest national estimates of unbanked and underbanked consumers. Conducted by the U.S. Census Bureau, the first National Survey of Unbanked and Underbanked Households was first issued in 2009. Those findings revealed that more than one quarter of households were unbanked and underbanked, although the phenomenon was more common in minority and low-income communities. Additionally, the trend was more severe in the South. The FDIC will release the second survey at the Sept. 12 meeting of the agency’s Advisory Committee on Economic Inclusion. The panel also will discuss how electronic accounts, online banking, and other technology can help expand access to mainstream banking.

American Banker 06 Sep 2012

 

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