“Unbanked” in the News

The FDIC recently released the results of the second National Survey of Unbanked and Underbanked Households which collected data on the  number of U.S.  households that are unbanked and underbanked, their demographic  characteristics, and their reasons for being unbanked and underbanked. The  survey was conducted by the U.S. Census Bureau as a special supplement to the  Current Population Survey (CPS). Read more and download the Survey at http://www.fdic.gov/householdsurvey/.

A selection of recent news articles discussing the FDIC survey, the unbanked and underbanked, and regional areas and populations with a high percentage of unbanked is provided below as a convenience.

Who are the unbanked?

CNNMoney – ‎Sep 14, 2012‎

Among all of the regions in the country, the South has the largest percentage of residents who are “unbanked,” meaning they don’t have a checking or a savings account. According to an FDIC report released this week, 10% of the region’s population doesn’t

FDIC wants banks to make market out of unbanked Americans

Kitsap Peninsula Business Journal – ‎6 hours ago‎

U.S. households without bank accounts grew by 821,000 from 2009 to 2011, pushing the so-called unbanked population to 8.2 percent of the nation’s total, according to an FDIC survey. The result is that about 17 million adults manage their finances without

Financial Situation for Unbanked Worsened, Report Says

ABC News (blog) – ‎Sep 14, 2012‎

A new study shows that the number of unbanked households in America — those with no bank accounts — has increased since 2009. Ten million households, or one in 12, are unbanked, said the Federal Deposit Insurance Corporation (FDIC) in its National

US Unbanked Households Rising as FDIC Pushes for Alternatives

Businessweek – ‎Sep 12, 2012‎

U.S. families without bank accounts grew by 821,000 from 2009 to 2011, pushing the so-called unbanked population to 8.2 percent of the nation’s households, according to the Federal Deposit Insurance Corp. About 17 million adults manage their finances

More US households (1 in 12) don’t have bank accounts, FDIC says

Los Angeles Times – ‎Sep 14, 2012‎

That’s 8.2% of U.S. households, or 17 million adults who are categorized as “unbanked,” according to a report from the Federal Deposit Insurance Corp. Nearly three in 10 households don’t have a savings account, while 10% don’t have a checking account.

FDIC Pushes Banks to Make Market out of Unbanked Americans

Businessweek – ‎Sep 12, 2012‎

The FDIC and consumer advocates have sought to shed light on the unbanked — those without bank accounts — and underbanked — those who rely on alternative services even though they have bank accounts — as a first step toward promoting use of insured

Almost 10 million are “unbanked”

KFVS – ‎Sep 14, 2012‎

POCAHONTAS, MO (KFVS) -. Americans in almost 10 million households say they don’t have a bank account according to a report out this week from the FDIC. They are sometimes referred to as “unbanked.” The report said people choose to go without a

Many trapped in the ‘unbanked’ economy

STLtoday.com – ‎Sep 12, 2012‎

The percentage of households in the St. Louis region that are ‘unbanked‘ rose to an estimated 9.7 percent in 2011, according to a survey released by the Federal Deposit Insurance Corp. Wednesday, an increase from 7.6 percent in 2009, when the survey

‘Unbanked households’ on the rise, both locally and nationally

STLtoday.com – ‎Sep 12, 2012‎

The number of households in the St. Louis metro area that are ‘unbanked‘ — or lacking a savings or checking account — rose to 9.7 percent last year, according to the survey released today, up from 7.6 percent in 2009. Nationally, 8.2 percent of households

Percentage of ‘unbanked’ drops in Raleigh

Bizjournals.com – ‎Sep 12, 2012‎

The percentage of Raleigh/Cary metropolitan statistical area households that don’t have a checking or savings account – the “unbanked” – has dropped over the past couple of years, reports the Federal Deposit Insurance Corp. As of 2011, 2.6 percent of

Banking usage in Arizona declines

AZ Central.com – ‎Sep 15, 2012‎

The increase in Arizona’s unbanked and underbanked population is worrisome because the FDIC numbers and other evidence show a strong connection between account use and higher personal affluence. Regular bank customers (including those at credit

Number of Unbanked Americans Increases

Millionaire Corner – ‎Sep 12, 2012‎

The number of unbanked U.S. households has grown by 821,000, an increase of 0.6 percent since 2009, according to the 2011 National Survey of Unbanked and Underbanked Households released by the FDIC today. That leaves more than one-in-four U.S.

Unbanked consumers on the rise

The City Wire – ‎Sep 12, 2012‎

The Federal Deposit Insurance Corp. is calling on banks to court into their fold some 17 million adults who use payday lenders or check-cashing stores like Wal-Mart instead of their local banks. In Arkansas that’s 12% of households which are considered

US households not using banks on rise

Atlanta Journal Constitution (blog) – ‎Sep 13, 2012‎

821,000 more households have become unbanked, a 0.6 percent increase. More than one-half of those households that are unbanked said they don’t have a bank account because they think they don’t have enough money or they don’t want an account.

FDIC: 31% of South Floridians unbanked or underbanked

Bizjournals.com – ‎Sep 13, 2012‎

An unbanked person has no depository account. The FDIC found that 9 percent of the people in South Florida were unbanked, slightly higher than the national rate of 8.2 percent. That means 206,000 people in South Florida have no bank accounts.

Unbanked households on the rise

STLtoday.com – ‎Sep 12, 2012‎

The number of households in the St. Louis region that are unbanked, or lacking a savings or checking account, rose to 9.7 percent, according to the survey released Wednesday, up from 7.6 percent when the report was last released in 2009. Nationally, 8.2

FDIC: 8.2% of U.S. households are unbanked, 29.3% do not have a savings …

Credit Writedowns (blog) – ‎Sep 12, 2012‎

“The results of the 2011 National Survey of Unbanked and Underbanked Households indicate that insured financial institutions have an important chance to grow their customer base by expanding opportunities that bring unbanked and underbanked

FDIC: 31% in Jacksonville unbanked or underbanked

Bizjournals.com – ‎Sep 13, 2012‎

A survey by the Federal Deposit Insurance Corp. found that 31.3 percent of Jacksonville residents are either unbanked or underbanked. The FDIC found that 6 percent of the people in Jacksonville were unbanked, slightly lower than the national rate of 8.2

More South Florida households forgo bank accounts, survey says

Sun-Sentinel – ‎Sep 13, 2012‎

In 2011, some 206,000 households in the Miami-Fort Lauderdale-Miami Beach metropolitan statistical area or 9 percent of 2.28 million area families were “unbanked” or didn’t have bank accounts that year, the Federal Deposit Insurance Corp. study showed.

Report Shows High Percentage of “Unbanked” Kentuckians, Tennesseans

WKU Public Radio – ‎Sep 16, 2012‎

Nearly one in ten Kentuckians doesn’t have a bank account. That’s one of the findings in a new report issued by the Federal Deposit Insurance Corporation. The FDIC report says 9.9% of Kentuckians have no banking account. The number is higher in

FDIC Releases National Survey of Unbanked and Underbanked

PYMNTS.com – ‎Sep 12, 2012‎

The Federal Deposit Insurance Corporation (FDIC) today released the results of its 2011 National Survey of Unbanked and Underbanked Households, the most comprehensive survey on the unbanked and underbanked in the United States. The survey

FDIC: 30% of Tampa metro households unbanked or underbanked

Bizjournals.com – ‎Sep 12, 2012‎

More than one in four households in the United States were unbanked or underbanked in 2011, according to a new survey by the Federal Deposit Insurance Corp. Those households, which conduct some or all of their financial transactions outside of the

FDIC: 10M Households Don’t Have Bank Accounts; 20% ‘Underbanked’

eCreditDaily.com – ‎21 hours ago‎

The FDIC, the independent U.S. agency that insures Americans’ bank deposits, sponsored the second National Survey of Unbanked and Underbanked Households to help ensure that “all Americans have access to basic, safe, and affordable bank services,”

Thirty Percent of Americans Are Stupid Enough to Not Have a Savings Account

Go Banking Rates – ‎Sep 12, 2012‎

Today, the Federal Deposit Insurance Corporation (FDIC) released the results of its 2011 National Survey of Unbanked and Underbanked Households. The study examined how many U.S. citizens are either underbanked, meaning they have inadequate

Almost One-Third of US Households Have No Savings Account – FDIC

Fox Business – ‎Sep 12, 2012‎

The report, the 2011 “National Survey of Unbanked and Underbanked Households,” also finds that a growing number of consumers aren’t using banks at all. In 2009, 7.6% of U.S. households were “unbanked,” meaning they lacked a bank account.

America to Banks: We’re Just Not That Into You

TIME – ‎Sep 13, 2012‎

One in 12 households or 8.3% are unbanked, while another roughly 20% are what researchers call “underbanked,” meaning they have a bank account but still use payday loans, prepaid debit cards and other alternative financial products. In 2009, the FDIC

FDIC: 25% of Illinois households lack sufficient banking services

Chicago Tribune – ‎Sep 12, 2012‎

In the FDIC’s 2009 study, 301,000 of Illinois’ 4.9 million households, or 6.1 percent, were unbanked and 780,000, or 15.9 percent, were underbanked. Nationwide, 28.3 percent of households are unbanked or underbanked, the FDIC said. Of those, 8.2 percent,

FDIC survey: 21% of Blacks, 41% of low income Blacks are not banking

Amsterdam News – ‎Sep 13, 2012‎

Today The Federal Deposit Insurance Corporation (FDIC) released the results of its 2011 National Survey of Unbanked and Underbanked Households, which the U.S. Census Bureau conducts every 2 years. The servey found that 28.3%, more that 1 in four

Sad Findings Show Americans Stink at Managing Their Money

Huffington Post – ‎Sep 14, 2012‎

The reason this is of special interest to me in the consumer debt world is because those that are stumbling down the financial economic ladder and wind up either unbanked or using payday loan or check cashing services are going to less likely to be able to

FDIC: Millions of Americans Avoiding Banks

Moneynews – ‎Sep 13, 2012‎

The proportion of Americans who avoid a standard banking relationship is on the rise, according to data from the Federal Deposit Insurance Corporation (FDIC), and as these individuals flock to alternative services, banks are advised to consider ways to profit

More Households in US Don’t Have Bank Accounts

Zolmax – ‎22 hours ago‎

Most of those considered unbanked are non-Asian minorities or households that are lower-income, unemployed, young or less educated. More than 50 percent of the unbanked households never opened a bank account. This includes almost 15 percent of

FDIC report: 10 million US households don’t have bank accounts, up 7.7% since …

ABC Action News – ‎Sep 12, 2012‎

And while most unbanked respondents say they don’t plan to open a checking or savings account, about one-third of unbanked households said they are “very likely” or “somewhat likely” to open an account. The odds of wanting to open a bank account

More Americans forgo traditional banks

News & Observer – ‎Sep 13, 2012‎

“A part of changing the condition of unbanked people is keeping them away from predatory lenders who keep them mired in debt,” he said. “One of the reasons you had all of these mortgage companies preying on low-income communities is because there

Fewer Las Vegas households using banks, financial institutions

Las Vegas Review – Journal – ‎Sep 13, 2012‎

Those considered “unbanked” – living without a checking or savings account – by the FDIC included 6.2 percent of Las Vegas Valley households last year, a modest improvement from 6.8 percent in 2009. Meanwhile, the number of “fully banked” households in

The cost of opting out of a bank account

Boston.com (blog) – ‎Sep 14, 2012‎

“Our concern is that when people are moved from ‘unbanked‘ to banking status, they are put into good products, which means no high overdraft fees or payday lending structures,” said Kathleen Day, a spokeswoman at the Center for Responsible Lending,

1 in 10 Southerners has no bank account

CBS42 – ‎Sep 14, 2012‎

The report also says the South has the largest percentage of “unbanked” residents at 10 percent. The national average is 8.2 percent. Census data shows nearly 40 percent of the country’s poor live in the Southern states. Industry experts say high poverty and

The Unbanking of America

24/7 Wall St. – ‎Sep 13, 2012‎

Only the U.S. government could come up with the term “unbanked” to describe Americans who do not have bank accounts or “underbanked” for Americans without sufficient access to basic financial services. The terms may be odd, but the problems are

More consumers exit banking system

FierceFinance – ‎Sep 14, 2012‎

That’s the conclusion of a recent study by the FDIC, which found that 821,000 households opted out of the banking system from 2009 to 2011, and that the ranks of the unbanked has soared. As of now, about 17 million adults do not have a checking or savings

Central Ohioans cooling on use of traditional banking services

Bizjournals.com – ‎Sep 13, 2012‎

The survey divides households into three categories: fully banked, underbanked (those that use a bank account in tandem with an alternative financial service), or unbanked (those that do not have a bank account). It found that 68.8 percent of U.S. households

More and more Americans are living without banks – why?

Catholic Online – ‎Sep 13, 2012‎

The study also found that 821,000 households opted out of the banking system from 2009 to 2011 and that the so-called unbanked population grew to a substantial 8.2 percent. This “under-banked” population has grown from 18.2 percent to 20.1 percent of

Southern residents less likely to have bank accounts, reports says

Nooga.com – ‎Sep 14, 2012‎

The South has the highest proportion of “unbanked” or “underbanked” households, according to a new report from the Federal Deposit Insurance Corporation. Ten percent of people in the South either don’t have a bank account or don’t have adequate access

10 US million
households don’t have bank accounts

CNNMoney – ‎Sep 12, 2012‎

About one in every five households is considered underbanked, representing 20.1%, or 24 million, U.S. households. That compares to a rate of 18.2% in 2009. Altogether, more than one in four U.S. households, or 28.3%, are either unbanked or underbanked.

FDIC: St. Louis metro area third-highest ‘unbanked’ region

KMOV.com – ‎Sep 12, 2012‎

According to the FDIC, 9.7 percent of households are unbanked. That number is even higher for African-American households. FDIC figures show that 31 percent of African-American households do not use a bank. The metro area numbers are the third

Third of Las Vegans do ‘banking’ with pawn shops, payday lenders

VEGAS INC – ‎Sep 12, 2012‎

Nevertheless, the percentage of “unbanked” households improved slightly to 6.2 percent last year from 6.8 percent in 2009. Unbanked households do not have any accounts with an insured depository institution. In Nevada, 31.2 percent of households

 

10 Million Homes Don’t Have Bank Accounts

Cleveland News – Fox 8 – ‎Sep 12, 2012‎

Altogether, more than one in four U.S. households, or 28.3%, are either unbanked or underbanked. The FDIC conducted its survey with the U.S. Census Bureau in June 2011, surveying nearly 45,000 households. The FDIC’s last comprehensive study on the

10 million households have no bank account: FDIC

MarketWatch – ‎Sep 13, 2012‎

Loan program helps ‘unbanked‘ climb economic ladder. November 10, 2009. Death of Texas bill hits ‘payday’ lenders. May 11, 2005. Related Keywords. Savings Accounts · Payday Lenders · MarketWatch Articles. Copyright 2012 MarketWatch, Inc. All rights

This Afternoon’s Top News Stories

DailyFinance – ‎Sep 12, 2012‎

An estimated 8.2% of households (about 10 million) are “unbanked” and another 20.1% households (or 24 million) are “underbanked,” according to the FDIC. One-third of survey respondents reported that they did not have enough money to open or fund an

FDIC survey finds 8.2 pct. of US households lack basic bank services

Washington Post – ‎Sep 12, 2012‎

WASHINGTON — A government survey shows about 821,000 U.S. households lost access to basic banking services between January 2009 and June 2011. Roughly 10 million U.S. households, or 8.2 percent, have no access to bank accounts, according to a

Million households have no bank account

MarketWatch – ‎Sep 13, 2012‎

WASHINGTON(MarketWatch) – More than a quarter of American households lack access to full banking services or have no bank account while nearly 10 million U.S. households have no checking or savings accounts at all, according to a Federal Deposit

FDIC ‘Falling Flat’ on Busted Bank Tax Claims: Street Whispers

TheStreet.com – ‎Sep 12, 2012‎

NEW YORK (TheStreet) –The Federal Deposit Insurance Corp. has been striking out in its efforts to lay claim to tax refunds from failed banks, and at least one analyst who has been following the cases believes the regulator is doomed to failure in these efforts.

Growing Number of Americans Opting Out of Banking System

Newsroom America – ‎Sep 13, 2012‎

The report, released Wednesday, found that 821,000 households opted out of the system between 2009 and 2011, raising the so-called unbanked population to 8.2 percent of all households. That means some 17 million adults do not have a checking or

Nevada Topped Nation in Underbanked Households in 2011

KLAS-TV – ‎Sep 13, 2012‎

8 News NOWNevada Topped Nation in Underbanked Households in 2011. SITE SEARCH WEB SEARCH BY Google. 8NewsNOW.com Home · eMail Alerts · 8NN Mobile · Photos · Entertainment · Living Green · About Us · Programming/Closed Captioning

FDIC Warns that Buying Loan Participations No Excuse for Laxity

American Banker – ‎Sep 12, 2012‎

Payments See All » · Debut of Telecom-Backed Isis Mobile-Pay System Delayed — Again · Citigroup Wins Dismissal of Cardholder Security-Breach Suit · Nation’s Unbanked Continue to Grow, FDIC Says

FDIC: No Bank Accounts for 10M US Households

Investorplace.com – ‎Sep 12, 2012‎

FDIC: No Bank Accounts for 10M U.S. Households. More Americans are using payday loans and check-cashing services. Sep 12, 2012, 12:08 pm EDT | By Christopher Freeburn, InvestorPlace Writer. With lingering high unemployment and many Americans

Fewer households using banks, financial institutions

New Mexico Business Weekly – ‎Sep 12, 2012‎

More Americans are shunning banks and other financial institutions, according to a report released Wednesday by the Federal Deposit Insurance Corp. and the U.S. Census Bureau. About 10 million households, or 8.2 percent, didn’t use banks in 2011,

 

FDIC: Millions of Households Do Not Use Banking System

akgulian.com – ‎Sep 15, 2012‎

September 15, 2012- Over 25% of households in the U.S. do not have complete access to all banking services or do not have a bank account. Close to 10 million households also do not use a savings or checking account at all, says data from a survey by the

8.2 percent of US households lack bank accounts

Economic Times – ‎Sep 12, 2012‎

WASHINGTON: A government survey shows about 10 million U.S. households, or 8.2 percent, have no access to bank accounts, including large numbers of black and Hispanic families. The survey conducted by the Federal Deposit Insurance Corp. says

Commerce Street Capital director urges Congress to help bank stocks regain mojo

Houston Business Journal – ‎Sep 14, 2012‎

Thomas Lykos Jr., Houston managing director of Dallas-based Commerce Street Capital LLC. Collin Eaton: Reporter- Houston Business Journal: Email | Twitter. The Federal Deposit Insurance Corp.’s second-quarter report shows banks across the U.S. saw

FDIC survey finds 10 million US households lack basic bank services

CanadianBusiness.com – ‎Sep 12, 2012‎

WASHINGTON – About 821,000 households in the United States lost access to basic banking services between January 2009 and June 2011, according to a survey by the federal agency that insures bank deposits. Roughly 10 million U.S. households, or 8.2

21.4 percent of black families don’t have bank accounts

The Grio – ‎Sep 12, 2012‎

Roughly 10 million U.S. households, or 8.2 percent, have no access to bank accounts, according to a survey conducted by the Federal Deposit Insurance Corp. That’s up from 7.7 percent in the FDIC’s 2009 survey. And an even larger percentage of Americans

 

US households face growing shortfall in banking services, FDIC survey finds

Central Banking (subscription) – ‎Sep 12, 2012‎

The number of households in the United States defined as ‘unbanked‘ or ‘underbanked’ is on the rise, with non-Asian minorities, lower-income households, younger households and unemployed households most affected, according to a biennial report by the

 

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