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Thursday, September 13, 2012

More Americans Opting Out Of Banking System

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, the report from the Federal Deposit Insurance Corp. said.
Released Wednesday, the study   found that 821,000 households opted out of the banking system from 2009 to 2011 and that the so-called unbanked population grew to 8.2 percent of U.S. households.

1 comment:

Anonymous said...

Well I keep just enough money in the bank to pay my bills.....I learned that the state and federal government can "just seize your money with no reason" I had quite a bit of money stolen from me just due to an error from the IRS and it took 6mths to get it strait and get my money back.....