Access to Basic Banking Is a Crisis for 40 Million Americans

Thursday, December 12, 2013

With nagging questions about our ability to broadly raise the financial I.Q. of most people, the global financial education movement is pivoting to a large pocket where results are near certain and the impact may be greatest: the poor and unbanked.

Globally, half of adults totaling some 2.5 billion people do not have a formal bank account. This shuts them off from credit and savings opportunities that you may take for granted; it hinders their rise to a better life and squanders the potential to convert hundreds of millions of people from economic drains into economic contributors.

Source: Time Magazine (link opens in a new window)

Categories
Education
Tags
banking, financial education, financial inclusion