FDIC: 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 (FDIC) on Thursday. Seven percent of U.S. households were unbanked in 2015. That was the lowest share in the survey’s history and a decrease from…
CFPB: Financial Coaching Can Benefit Consumers
We recently released two briefs about financial coaching and how it can benefit consumers. At some point in their financial lives, many consumers need more than access to information — they may also need someone to help them to identify and achieve their financial goals. A financial coach can serve as a capable and trusted…
FDIC: Advisory Committee Will Meet to Discuss Unbanked/Underbanked Survey
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Thursday, October 20, to discuss the results and release of the full FDIC National Survey of Unbanked and Underbanked Households. Other topics for discussion by the advisory committee include expanding access to safe transaction accounts, as well as initial lessons learned…
ABA: Foundation Accepting Entries for Lights, Camera, Save! Video Contest
Local banks sponsor teen competition WASHINGTON — Banks nationwide are now accepting entries as a part of the American Bankers Association Foundation’s annual Lights, Camera, Save! video contest. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. Through Lights, Camera, Save!, teen participants will create…
FDIC: Financial Services Site in Spanish Launched
En Español The Federal Deposit Insurance Corporation (FDIC) today launched a new Spanish-language website with links to the agency’s available resources in Spanish as the nation observes Hispanic Heritage Month. The new website, “Recursos para Consumidores en español,” features links to webinars and video presentations that cover topics such as deposit insurance, consumer protection, and…
CFPB: We’ve Issued a New Rule to Help Protect Consumers Using Prepaid Accounts
Prepaid accounts are one of the newer ways to store and spend your money. These include prepaid cards that you buy in stores or digital wallet accounts that you get online. With most prepaid accounts, you can spend the money you’ve loaded in advance for daily expenses or withdraw cash from an ATM. You can also…
ABA: Survey – 1 in 3 Americans Use Mobile Deposit
62 percent of users do so at least once per month WASHINGTON — One in three Americans have deposited a check using a mobile device within the past year, according to a new survey by the American Bankers Association. Of those who have used mobile deposit, 62 percent report using it at least once per…
ABA: Survey – Top Reasons Consumers Plan to Consult Their Bank
WASHINGTON — Car loans, mortgages and saving for college are the top reasons consumers plan to consult their bank over the next year, according to a new survey by the American Bankers Association. Two in five Americans indicated they may contact their bank about these or other important financial decisions within the next 12 months….
ABA: Top Ag Banking Awards Go to Indiana Banker and Kansas Ag Professor
WASHINGTON — The American Bankers Association today announced the recipients of both the Bruning and Blanchfield Awards, the association’s premier awards presented for contributions to agricultural banking. Gene Miles, president and CEO of First Farmers Bank and Trust Company, Converse, Ind., will receive the Bruning Award, and Kansas State University ag economics emeritus professor Barry…