According to the FDIC, Quite a Few of the DFW's Households Don't Have a Bank Account
CNNMoney.com directs our attention this afternoon to the Federal Deposit Insurance Corp.'s first-ever report documenting how many Americans are "unbanked." Says the study, Dallas-Fort Worth-Arlington boasts an awfully high percentage of households who don't use a bank -- 10.9 percent, to be precise, which is well over the national average of 7.7 percent. And, according to Page 129 of the study, most of the area's unbanked are African-American (21.5 percent of those surveyed using this questionnaire said they don't have bank accounts) or Hispanic (23.7 percent).
And almost a quarter of folks living in the DFW are considered "underbanked," meaning, yeah, they may have a checking or savings account, but they have "used non-bank money orders, non-bank check-cashing services, payday loans, rent-to-own agreements, or pawn shops at least once or twice a year or refund anticipation loans at least once in the past five years." And, again, those numbers are highest among African-Americans (33.2) and Hispanics (37.5).
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Dallas, delivered to your inbox Monday through Friday.