Search results
Results from the WOW.Com Content Network
The Federal Reserve estimated there are 55 million unbanked or underbanked adult Americans in 2018, which account for 22 percent of U.S. households. [2] [3] One report found the nationwide rates to be 7.7% unbanked and 17.9% underbanked, with the most unbanked state Mississippi, at 16.4%.
The following list ranks countries by the share of population with access to financial services.Access to financial services is defined as the share of the adult population (population ages 15+) with an account ownership at a financial institution or with a mobile-money-service provider.
Among the unbanked, a significant number are women and poor people in rural areas. Often, those excluded from financial institutions face discrimination or belong to vulnerable or marginalized populations. Due to the lack of financial infrastructure and financial services many under-served and low-income communities suffer.
Access to finance varies greatly between countries and ranges from about 5 percent of the adult population in Papua New Guinea and Tanzania to 100 percent in the Netherlands [1] (for a comprehensive list of estimated measures of access to finance across countries, see Demirgüç-Kunt, Beck, & Honohan, 2008, pp. 190–191 [1]).
Many people in impoverished areas are underbanked or unbanked. [46] In the United States, almost one-third of the population lacked the full range of basic financial services in 2012. [47] In 2011, an FDIC survey found that approximately one-quarter of households whose annual income was less than $15,000 had no bank account. [48]
The underbanked is a characteristic describing people or organizations who do not (or volunteer to not) have sufficient access to mainstream financial services and products typically offered by retail banks and thus often deprived of banking services such as credit cards or loans.
Examples of these companies include Springleaf, Duvera Financial, Inc., Lendmark Financial Services, Inc., HSBC Finance, Citigroup, Wells Fargo, and Monterey Financial Services, Inc. [citation needed] The more generic name "consumer finance" is also used, although more properly this term applies to financing for any type of consumer.
About Wikipedia; Contact us; Contribute Help; ... These are lists of people. ... Lists of people by name (5 C, 8 P)