John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... There are millions of people in the U.S. who do not have bank accounts.
In government jargon, they are the “unbanked” or the “under-banked.” Many people without accounts, for example, are served by Douglas County based Western Union.
The FDIC has been studying this issue and next Wednesday, Dec. 2, the FDIC’s Advisory Committee on Economic Inclusion, will discuss the results of its national survey of unbanked and under-banked households. The FDIC conducted its national survey earlier this year earlier this year as a supplement to the Bureau of the Census’ Current Population Survey.
“The data obtained from the FDIC/Census survey are the most comprehensive ever obtained about the demographic characteristics of who is considered under-served, and why,” said FDIC Chairman Sheila C. Bair.
“Armed with this groundbreaking information, policymakers and the industry will be better positioned to help broaden all consumers’ access to the financial mainstream,” Bair added.
FDIC Vice Chairman Martin J. Gruenberg said that, “This survey will provide the information base for future efforts to address the financial services needs of unbanked and under-banked households in the United States.”
The committee also will discuss issues related to overdrafts and it strategic focus going forward. That will include “lessons learned” from is two-year “Small-Dollar Pilot,” a program launched in February 2008 to help banks incorporate affordable small-dollar loans into their mainstream banking services.
Contact John Rebchook at JRCHOOK@gmail.com or 303-945-6865.
