Can you get by without a checking or savings account? Many Americans do…..
Can you get by without a checking or savings account? Many Americans do…..
You’d assume that nearly every adult American has some kind of foot in the banking industry, with an active checking or savings account at the least. A survey by the FDIC & the Census Bureau, however, paints a dramatically different picture: 25.6% of households—30 million in all—did not use basic banking services last y ear or relied on alternative services, such as high-interest payday loans, to get cash. Minority groups were less likely than the overall population to have standard banking relationships. What can banks and the government do to reach out to this underserved segment of the population?
Guest:
Erika Bell, vice president of strategy & services at the Latino Community Credit Union
Paul Leonard, director, California office Center for Responsible Lending
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- Can you get by without a checking or savings account? Many Americans do…..
