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.
The Cities for Financial Empowerment Fund announced today that 60 financial institutions—including 46 banks—with more than 28,000 branches nationwide are now offering 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.
The American Bankers Association joined eight other financial trade groups today to oppose an amendment to the FY 2021 financial services and general government appropriations introduced by Reps. Bill Pascrell (D-N.J.) and Marcy Kaptur (D-Ohio) that would enable the U.S. Postal Service to provide banking services.
Based in San Francisco and leading California’s market for the Bank of Guam, plus currently serving as chairman of the Western Bankers Association, Dave Joves shares a trans-Pacific view of banking on the latest episode of the ABA Banking Journal Podcast.
First Independence Bank was founded 50 years ago to help rebuild Detroit’s economy in the wake of damaging urban violence. Today, in a new era of economic hardship due to the coronavirus pandemic, and protests and unrest in response to incidents of racial injustice, minority depository institutions continue to have a unique role in serving distressed communities.
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.
After a career as a nonprofit executive, Midwest BankCentre Chairman and CEO Orvin Kimbrough discusses the unique perspective he brings to his role and how his bank is reaching underserved communities in the St. Louis area.
How banks of all sizes are delivering tailored financial education programs that meet the needs of distinct—and vulnerable—groups in their communities.
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.