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.