Fed Survey: Even Amid Pandemic, Unbanked Share Dips
The share of unbanked American adults dipped to 5% in 2020, according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
Browsing: Public banks
ABA, Trade Groups Oppose California Public Banking Bill
The American Bankers Association joined a coalition of nine other trade associations in a letter opposing a bill introduced in the California State Assembly that would create a public banking program, BankCal, within the state treasurer’s office that would provide financial services to California residents.
The Real Story on Bank Branch Closures
Some branches are closing but that doesn’t mean reduced access to banking services, especially in lower-to-moderate-income neighborhoods.
White House Official: Direct Payments Raise Stakes for Unbanked
With more direct payments coming for many Americans in the wake of a new round of economic impact payments, the importance of having a banking relationship will rise for unbanked Americans, White House official Cedric Richmond told ABA’s Washington Summit today.
Darrin Williams: Behind the Scenes at an Innovative CDFI
Southern Bancorp’s high-touch focus on pairing in-depth financial counseling with a Bank On-certified checkless checking account to help reach the unbanked in the Delta.
ABA Politico Ad Spotlights BankOn Initiative
The American Bankers Association this week ran an ad in Politico magazine—a widely read publication among policymakers in Washington, D.C.—highlighting its effort to promote financial inclusion and encourage banks to offer low-cost, basic accounts that meet Bank On-certified standards.
Hiring Directors, Halting Bias: Ideas for Improving Diversity
Does your bank board mirror your market? Mounting pressure for banks to better reflect their communities is prompting banks to rethink director recruitment.
FDIC: Share of Unbanked Americans Reaches Record Low in 2019
The share of U.S. households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report.
Nichols Urges All Banks to Offer ‘Bank On’ Certified Accounts
To help reduce the number of unbanked Americans, ABA President and CEO Rob Nichols today urged all banks to offer a Bank On-certified account.
Nichols Op-Ed: Philly Public Bank Proposal Creates Taxpayer Risk
Private-sector banks provide extensive service that eliminates any need for the city of Philadelphia to take on the taxpayer risk of starting a public bank, ABA President and CEO Rob Nichols argued in a Philadelphia Inquirer op-ed yesterday.