The percentage of US households lacking access to a checking account is now at a record low, but minorities still have a weaker connection to the American banking system than white households do. Those were among the findings of a new FDIC report this week that found roughly 5.6m households were “unbanked”, accounting for 4.2% of all households or 1 in 25.
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Amount of 'unbanked' Americans hits a record low
"There definitely is room for improvement, especially amongst certain segments of the population," Jeffrey Weinstein, FDIC senior research economist, said Wednesday.
