“Unbanked” and “Underbanked” U.S. Households

The Federal Deposit Insurance Corporation (FDIC) released a survey on American households that are "unbanked" - have neither a checking account nor a savings account, and "underbanked" - have a checking account or savings account but rely on alternative financial services. Alternative financial services can include using a non-bank check cashing service, non-bank money order service or a payday loan service.