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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 national unbanked rate is at 4.2 percent, which equals 5.6 million households according to the 2023 FDIC National Survey of Unbanked and Underbanked Households. The previous lowest rate was 4. ...
American Indian or Alaska Native households saw the sharpest rise in the portion considered unbanked, to 12.2% from 6.9%. Hispanic households saw a slight increase, to 9.5%. The unbanked rate ...
Simply put, the 2023 National Survey of Unbanked and Underbanked Households found that the number of American households without a bank account or credit union has reached an all-time low: 4.2 ...
The U.S. financial system has a massive reach — more than 4,000 banks and nearly 5,000 credit unions are scattered across the country. However, plenty of Americans never step inside their ...
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]
According to the latest figures from the Federal Deposit Insurance Corp., almost 6 million U.S. households were “unbanked” as of 2021. That means that no one in the household has a checking or ...