Reported 7 days ago
A recent FDIC report reveals that the percentage of U.S. households without a checking account has dropped to a record low of 4.2%, equating to approximately 5.6 million households classified as 'unbanked.' Despite this decline, disparities remain, as minority households—particularly American Indian, Hispanic, and Black communities—continue to have significantly higher unbanked rates compared to white households. While mobile banking usage has surged, traditional banking methods persist among lower-income and less-educated demographics.
Source: YAHOO