More Americans Giving Up on Banking

That's what this report issued by the FDIC shows. A Washington Post story on the report says that

In the aftermath of one of the worst recessions in history, more
Americans have limited or no interaction with banks, instead relying on
check cashers and payday lenders to manage their finances, according to a
new federal report.
Not only are these Americans more vulnerable to high fees and
interest rates, but they are also cut off from credit to buy a car or a
home or pay for college… . 821,000 households opted out of the banking system from 2009 to 2011 and
… the so-called unbanked population grew to 8.2 percent of U.S.

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