The FDIC came out with some useful information in December.  It chartered the Census to conduct a survey of the un- and underbanked in the US.  Largest sample for a report of its kind.  The results can be found at www.economicinclusion.org.  Roughly, the findings affirm CFSI smaller, but deeper survey from 2008: 9 million unbanked households (17 million adults); 21 million underbanked households (43 million adults).  Sadly, but not surprisingly, a greater percentage of ethnic minorities and lower income are un- and underbanked.  What it lacks in details is made up in validation.  It’s good the FDIC is starting to measure.  It affirms what we already knew: big market, big need.

I suppose they intend the survey to encourage banks to pay attention.  That’s a slow process, but efforts like this will help a lot.  Starting to provide these kind of data might be evidence that the FDIC will offer carrots to encourage banks to really consider the underbanked.  Sticks alone won’t do the trick.