New Findings from the FDIC on the Unbanked: 2011 Household Study and Model Safe Accounts Pilot
- Date: October 19, 2012
- Time: 1:00 pm - 2:00 pm
- Category: Webinar
Overview
The FDIC recently released the 2011 National Survey of Unbanked and Underbanked Households report. This report provides valuable information about the socioeconomic and demographic characteristics of unbanked (do not have a deposit account), underbanked (have at least one deposit account and use non-bank financial service providers), and fully banked (have at least one deposit account and do not use non-bank financial service providers) households. According to the survey, more than one in four households (28.3 percent) are either unbanked or underbanked, conducting some or all of their financial transactions outside of the mainstream.
The FDIC also recently released the findings from the Model Safe Accounts Pilot, an initiative launched to determine the feasibility of financial institutions offering safe, low-cost transaction and savings accounts. Overall, the findings suggest that opportunities exist for financial institutions to offer safe, low-cost accounts to unbanked and underbanked consumers.
Join NLC's Institute for Youth, Education and Families (YEF Institute) in a free, hour-long webinar on Friday, Oct. 19, at 1:00 p.m. Eastern Time to hear about these two studies and their implications for cities that are working to help families gain access to the financial mainstream.
Speakers:
- Susan Burhouse, Senior Consumer Researcher, Division of Depositor and Consumer Protection, FDIC
- Sherrie L.W. Rhine, Ph.D., Senior Economist, Division of Depositor and Consumer Protection, FDIC
