New FDIC data reveals need for expanded banking options for underserved communities
96% of all U.S. households are banked
76% of households have at least one credit card
66% of unbanked households rely entirely on cash
34% of the unbanked rely on a mix of prepaid cards and online payments
33% of unbanked households are Hispanic
32% of unbanked households are Black
Source: FDIC, “National Survey of Unbanked and Underbanked Households,” November, 2024