The number of Americans who do not have a bank account fell to a record low last year, as the proliferation of online-only banks and an improving economy is bringing more Americans into the traditional financial system.
A new report from the Federal Deposit Insurance Corp. found that 4.5% of Americans — representing approximately 5.9 million households — were without a bank account in 2021. That’s the lowest level since the FDIC started tracking the data in 2009 and down from 5.4% of Americans in the 2019 survey data.
