Banks are employing a number of successful strategies to help promote financial inclusion among individuals with criminal records, the American Bankers Association Foundation noted today in a new white paper.
A Cleveland Fed report finds that—despite consolidation—bank branch proximity has remained stable and, in some cases, improved.
The fight on Capitol Hill over the Biden administration’s controversial tax proposal is likely to go on for another four to six weeks, and the proposal may continue to be raised after that, according to ABA EVP James Ballentine.
One in 10 adults say they do not have a checking or savings account, according to new research released by Morning Consult.
In a statement for the record shared ahead of a House Financial Services subcommittee hearing on expanding access to the financial system today, the American Bankers Association emphasized the banking industry’s commitment to reducing the number of unbanked individuals in the country.
The FDIC announced a competition today for companies to explore new technologies for banks to meet the needs of unbanked individuals.
The American Bankers Association, along with five financial services trade groups, released a white paper today outlining obstacles and solutions for improving financial inclusion for the unbanked population and for reducing the use of high-cost nonbank financial products and services.
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.
Some branches are closing but that doesn’t mean reduced access to banking services, especially in lower-to-moderate-income neighborhoods.
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.