FDIC reports lowest unbanked rate since start of survey | Orrick, Herrington & Sutcliffe LLP
On November 12, the FDIC released its biennial survey of unbanked and underbanked households revealing that the unbanked rate in the U.S. fell to a historic low of 4.2 percent in 2023. This rate decreased from 4.5 percent in 2021 and marked a significant drop from a high of 8.2 percent in 2011. First conducted…