Black and Hispanic households still remain much more likely to not have a bank account, although those figures are improving.
NEW YORK — The number of Americans who do not have a bank account fell to a record low last year, as the proliferation of online-only banks and an improving economy is bringing more Americans into the traditional financial system.
A new report from the Federal Deposit Insurance Corp. issued Tuesday found that 4.5% of Americans — representing approximately 5.9 million households — were without a bank account in 2021. That’s the lowest level since the FDIC started tracking the data in 2009 and down from
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