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Share of U.S. Households without a Bank Account Drops

The number of U.S. households without a bank account fell significantly in 2015, according to the National Survey of Unbanked and Underbanked Households released by the Federal Deposit Insurance Corporation on Oct. 20.

Seven percent of U.S. households were unbanked in 2015. That was the lowest share in the survey's history and a decrease from 7.7 percent in 2013 and 8.2 percent in 2011.

The decline in the share of unbanked households was broad based. Unbanked rates among black and Hispanic households, for example, fell about 10 percent. The unbanked rate for black households dropped from 20.6 percent to 18.2 percent, and for Hispanic households it fell from 17.9 percent to 16.2 percent.

You can read the entire FDIC release on this information by clicking here.

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