FDIC Survey: U.S. Unbanked Rate Hits Record Low, But Disparities Persist
In 2023, the FDIC survey found that 96% of U.S. households were banked, but significant disparities persist, with 4.2% of households (5.6 million) remaining unbanked, especially among lower-income, minority, and disabled groups, while mobile banking and nonbank online payment services like PayPal and Venmo saw increased use. [11/14/24]