STATEMENT: CAP Expert on FDIC Data on Unbanked and Underbanked Households; CAP to Host Event on New Findings Tomorrow
Washington, D.C. — This morning, the Federal Deposit Insurance Corporation, or FDIC, released its 2013 National Survey of Unbanked and Underbanked Households, which showed a slight decrease in the percentage of American households without bank accounts—from 8.2 percent in 2011 to 7.7 percent in 2013. Joe Valenti, Director of Asset Building at the Center for American Progress, issued the following statement:
Today’s data showing a modest improvement in bank account ownership are a positive sign. But the fact remains that 68 million adults in America remain disconnected from the financial system in some way. As the economy recovers, it’s more important than ever for policymakers to continue their efforts to build a financial system that works for all Americans.
Tomorrow, CAP will host an event to discuss these new findings from the FDIC, what being left behind in the financial system means for families and communities, and what policymakers and financial institutions are doing to bridge this gap. The event will feature opening remarks by Carmel Martin, Executive Vice President for Policy at the Center for American Progress, a keynote by José Cisneros, Treasurer of the City and County of San Francisco, and a distinguished panel of experts. Click here to RSVP.
- Expanding Financial Access Through Mobile Banking by Joe Valenti
- Financial Access in a Brave New Banking World by Joe Valenti and Deirdre Heiss
- The End of Cash: The Rise of Prepaid Cards, Their Potential, and Their Pitfalls by Joe Valenti
For more information on this topic or to speak with an expert, contact Allison Preiss at 202.478.6331 or firstname.lastname@example.org.