Patt Morrison for December 15, 2009

Banking the Underbanked: FDIC tries to reach out

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The number is surprising in this electronic age of debit cards, online banking and e-commerce: 17 million adult Americans do not have a bank account. In total 25.6% of all households in the U.S. are “unbanked” or “underbanked” and those households are disproportionately low-income and minority. Patt covered this story a few weeks ago but now we’re back to the FDIC response to this story, and to see how private banks and the government can draw more Americans into everyday banking.


Barbara Ryan, deputy vice chairman of the Federal Deposit Insurance Corporation

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