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Home Compliance and Risk

Fed survey: Unbanked rate little changed in 2025

May 13, 2026
Reading Time: 2 mins read
Fed survey: Unbanked status continues to vary among income, ethnic groups

Most U.S. adults reported they were financially stable in 2025, with the percentage of unbanked individuals remaining low but holding steady, according to the Federal Reserve’s latest “Economic Well-Being of U.S. Households” report.

The report found 73% of adults reported “doing okay financially” or “living comfortably” last year. “Price increases” remained the most cited financial concern, although concerns about “finding or keeping a job” grew more common.

Ninety-four percent of adults had a bank account, with nearly all adults with an income of at least $100,000 having an account. The remaining 6% were unbanked, a figure that has held steady since 2021. Unbanked rates were higher among younger adults, Black and Hispanic adults, and adults with a disability.

Other survey findings:

  • Twenty percent of adults said they experienced financial fraud or scams, similar to the prior year. Sixteen percent experienced fraud involving their credit card, while 8% experienced another type of financial fraud. Collectively, the total amount of non-credit-card fraud was an estimated $100 billion in 2025, with $56 billion borne directly by consumers.
  • Fewer adults applied for credit in 2025 than in any year since 2015. Thirty-three percent of adults applied for any type of credit in 2025. Among those who applied, one-third were either denied credit or approved for less credit than they requested, up five percentage points from 2021.
  • Eighty-two percent of adults had a credit card in 2025, compared to a high of 84% in 2021.
  • Sixteen percent of people used buy now, pay later products in the prior 12 months, up from 15% in 2025 and 10% in 2021.
  • Ten percent of adults reported using cryptocurrency, up from the prior year but down from 12% in 2021. Nearly one in 10 adults bought or held cryptocurrency as an investment in the prior year.
  • Sixty-three percent of adults owned their homes, while 27% rented.

Tags: Credit cardsCryptocurrencyFederal ReserveFraudHomeownershipScamsSurveysUnbanked
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