Mini-Profile
Approximately 9 million U.S. households have no control or checking account, while many of those bank accounts trying to have a credit history to build, according to a survey by the Federal Deposit Insurance Corp. released Wednesday.
Be considered in addition to 9 million U.S. households of people without bank accounts, 21 million more households with savings accounts “with no bank account” because the problem provides the use of alternative services such as payday loans or overdraft programs, fast cash, but are distinguished by high or triple -accompanied rates to double digits.
The survey of approximately 7.7% of U.S. households have no bank account or bank account operated without, while 17.9% are. Altogether, over one quarter of U.S. households, or 25.6%, with no bank account or bank.
“In addition to be paid more for basic operations and financial services to these credit [banked] May households more vulnerable to loss or theft, and often difficult to establish a credit history and achieving financial security, according to an excerpt from a summary report.
The results of the study is to assist the FDIC to a program to encourage banks to short-term dollar loans less than $ 2,500 for low-income Americans, many of which offer little or administers to manage any credit ratings.