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Report showing gains in bank access overshadowed by COVID - Black News Channel

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By KEN SWEET AP Business Writer CHARLOTTE, N.C. (AP) — More Americans than ever obtained a basic bank account in 2019, the Federal Deposit Insurance Corp. said Monday. But data was gathered before the outbreak of the coronavirus pandemic and start of this historic recession. But the agency noted that the loss of jobs and incomes due to the pandemic in 2020 likely reversed these positive trends. The FDIC study looks at the unbanked — Americans who do not have a basic checking or savings account — and the reasons why these individuals are outside the traditional bank system. While […]

The post Report showing gains in bank access overshadowed by COVID appeared first on Black News Channel.

Source: Black News Channel - Black News Channel

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