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New FDIC Study Shows One In Four U.S. Households Currently Unbanked Or Underbanked, State-By-State Data Available
December 2, 2009The Federal Deposit Insurance Corporation (FDIC) today released the findings of its FDIC National Survey of Unbanked and Underbanked Households, breaking new ground in gaining understanding of which Americans remain outside the banking system. The survey, conducted on behalf of the FDIC by the U.S. Bureau of the Census, was a supplement to the Census Bureau's Current Population Survey during January 2009. The study, which is the most comprehensive survey to date of the unbanked and underbanked, reveals that more than one quarter (25.6 percent) of all households in the United States are unbanked or underbanked and that those households are disproportionately low-income and/or minority. In addition to collecting accurate estimates of the number of unbanked and underbanked households in the U.S., the survey was designed to provide insights into their demographic characteristics and reasons why the households are unbanked and/or underbanked. The survey represents the first time that this data has been collected to produce estimates at the national, regional, state and large metropolitan statistical area (MSA) levels. Results of the study broken down regionally, by state and by MSA are now available online at a new Web site the FDIC has developed, www.economicinclusion.gov. Full release.