Sentences with phrase «underbanked americans»

Not exact matches

«We set out to help unbanked, underbanked, and disadvantaged people gain equal access to the standard credit products enjoyed by millions of Americans,» said Wehmann.

While there's plenty of startup money going to personal loan companies serving underbanked populations, only a sprinkling — less than 1 % — in the last decade has been earmarked for fintech companies providing prepaid cards and other basic bank services, according to a ValuePenguin study of investment dollars in fintech companies focused on underserved Americans.

According to the most recent FDIC National Survey of Unbanked and Underbanked Households, 7 percent of Americans are unbanked, and almost 28 percent of those households cited bank fees as the reason.

The Federal Deposit Insurance Corporation (FDIC) reports that in 2013, 7.7 percent of American households (17 million adults) were unbanked and 20 percent (51 million adults) were underbanked.