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FDIC survey results reflect the banking sector’s ongoing commitment to financial inclusion, Forum CEO says
Washington, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement today in response to the Federal Deposit Insurance Corporation’s (FDIC) 2021 National Survey of Unbanked and Underbanked Households:
“Today’s results from the FDIC’s survey, which found that the share of unbanked households has dropped to historic lows, marks a significant step forward. Financial inclusion is an important goal shared by all of our members, and today’s encouraging results reflect our members’ ongoing commitment to that goal.
“The nation’s largest banks have long been on the frontlines in the effort to bring unbanked and underbanked Americans into the financial mainstream, serving as founding lenders in a pilot program with Cities for Financial Empowerment (CFE) to offer BankOn accounts and partnering with CFE to launch Financial Empowerment Centers in cities across the country. Forum members are also working with the Office of the Comptroller of the Currency on Project REACh to promote financial inclusion through greater access to credit and capital.
“We welcome today’s results, and our members remain committed to bringing more people into the banking system.”
To learn more about how the nation’s largest banks are working to bring those outside of banking in, click here.
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The Financial Services Forum is an economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.
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