One in five adults employed in February had been furloughed or laid off by April, according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
There’s a clear business case for offering Bank On-certified accounts as a way for financial institutions to both serve the unbanked and grow their banks.
Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.
By Eric Haller
By Kate Young
By Kate Young
By Karen M. Kroll
By Kate Young
By Laine Crosby