FDIC Study: Most Banks Fail to Target 'Underbanked' Households

In its first study of “underbanked” households, the Federal Deposit Insurance Corp. found that only a quarter of 1,300 banks surveyed directly marketed their services to individuals who are under-served or not served at all by banking services in their community. The study’s results, released this week, seemed to go beyond the FDIC’s estimates: 73 percent of banks are aware that significant “unbanked and/or underbanked populations” are in their market areas, but less than 18 percent of banks identify expanding services to this sector as a priority in their business strategy.

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