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FDIC: US Bankless Rate Set To Rise

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The number of Americans without bank accounts is expected to spike again in the wake of the coronavirus pandemic after hitting a low last year, according to a new report by the Federal Deposit Insurance Corp (FDIC). percent in 2019, the lowest since the FDIC began tracking this stat in 2009. The unbanked rate jumped to 8.6

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There Are Fewer Unbanked Americans, According To The FDIC

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With increasingly few exceptions, the ranks of the unbanked seem to be on the decline, according to new data released by the FDIC. percent in 2013. According to FDIC data, unbanked American consumers peaked toward the end of the Great Recession in 2011 at 8.2 percent at that time). percent to 4 percent.

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Accion and VC Quona Raise $141M To Fund Unbanked Focused Startups

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FDIC), U.S. The FDIC also said that the percentage of U.S. percentage points compared to 2013 levels, meaning around 9 million households in the U.S. The underbanked stayed the same compared to 2013 levels. According to the Federal Deposit Insurance Corp. households that are unbanked declined by 0.7

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Robinhood Rolls Out Interest-Earning Bank Account

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The cash management feature is offered in partnership with a bank, and has debit cards, as well as deposits backed by the Federal Deposit Insurance Corporation (FDIC). Robinhood , which launched in 2013, attracts millennials interested in trading stocks and cryptocurrency. stocks, exchange-traded funds and options.

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Digital Bank N26 Offers New Perk Partners To US Debit Card Users

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N26 was founded in 2013 by Valentin Stalf and Maximilian Tayenthal. N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. Cash withdrawals are free at more than 55,000 Allpoint designated ATMs and customers also get two free out-of-network withdrawals per month. N26 started rolling out in the U.S.

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Robinhood Nets $280 Million On A $8.3B Valuation

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The company, launched in 2013, is now valued at $8.3 By partnering with a bank, users can access the service, which has debit cards and is backed by the Federal Deposit Insurance Corporation (FDIC). FinTech startups like Robinhood have been popular lately, attracting numerous new backers.

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OCC Puts Small-Dollar Loans Back In The Spotlight

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In 2013, the OCC had discouraged short-term lending by banks with limitations on what could be offered to customers depending on their credit. The report said that 2013 FDIC and OCC guidance eliminated the ability of banks to offer a viable alternative to compete with payday lending.

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