Study: One in 12 Americans has no bank account

There are 1 comment on the Aug 12, 2010, The York Daily Record story titled Study: One in 12 Americans has no bank account. In it, The York Daily Record reports that:

Alma Ramsey grit her teeth whenever a check-cashing business charged her for the service -- about 1 to 2 percent of the amount stayed behind as the fee.

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Great

York, PA

#1 Aug 13, 2010
"A recent survey by the Federal Reserve found one in 12 families -- about 8.7 percent nationwide -- do not have a banking account." I remember the same line of reasoning being applied in the early 90's to rates of home ownership. The subsequest lowering of lending standards to spur lending amongst a certain demographic worked well, didn't it? I hope the gummint has the common sense to leave this one alone. They don't have bank accounts for a reason!

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