Who Are The Unbanked?


fox8.com

By Blake Ellis

NEW YORK (CNNMoney) — Nearly 10 million households across the country are living without a bank account. And in some states, these residents make up a big slice of the population.

Among all of the regions in the country, the South has the largest percentage of residents who are “unbanked,” meaning they don’t have a checking or a savings account. According to an FDIC report released this week, 10% of the region’s population doesn’t have a bank account, compared to the national average of 8.2%.

While 37% of U.S. households live in the South, nearly half — or 46% — of all unbanked households in the country reside in this region. And so do nearly 40% of the nation’s poor, according to the U.S. Census Bureau.

And that’s no coincidence, said Odysseas Papadimitriou, CEO of CardHub.com and former head of a team at Capital One tasked with…

View original post 392 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s