The Federal Deposit Insurance Corporation last week convened a meeting in Washington D.C. as part of the agency’s broader efforts to expand access to the financial system. Hosted by the FDIC’s Advisory Committee on Economic Inclusion the meeting addressed a number of extraordinary findings from a survey of 30,000 American households.
Simply put, the 2023 National Survey of Unbanked and Underbanked Households found that the number of American households without a bank account or credit union has reached an all-time low: 4.2 percent of U.S. households, or about 5.6 million homes. That’s the lowest that’s ever been documented by the FDIC, a reduction of almost half since the all-time-high back in 2011.
