The Pew Health Group’s Safe Checking in the Electronic Age Project investigated checking accounts offered by the ten largest U.S. banks, which held nearly 60 percent of the nation’s deposit volume.
View an interactive graphic presenting a state-by-state overview of Underbanked or Unbanked households.
More info"'Hidden or unexpected' fees are the No. 1 reason given by the working poor for closing bank accounts, a recent study found. The study by the Safe Banking Opportunities Project, a project of the Pew Health Group, surveyed 2,000 predominantly low-income, Hispanic households in the Los Angeles area in a two-phase study. Study participants were screened and recruited through a door-to-door, interviewer-administered survey."
More info"Hidden bank fees are pushing the working poor out of mainstream banking and into riskier, more expensive alternatives to managing their personal finances. A new study released by the Pew Charitable Trusts provides a stark snapshot of how banks’ embrace of sneaky fees hurt the most vulnerable consumers."
More infoLos "cargos ocultos o inesperados" fueron mencionados como la razón principal por la cual los trabajadores pobres del Gran Los Ángeles, aquellos que tienen empleo pero que incluso así permanecen en pobreza relativa, cerraron cuentas de banco el pasado año, por encima de razones como la pérdida del empleo o la falta de dinero, según una encuesta en hogares predominantemente hispanos y de bajos ingresos dada a conocer por el Safe Banking Opportunities Project (Proyecto Oportunidades para Banca Segura) del Pew Health Group.
More info“Hidden or unexpected fees” were cited as the number one reason Greater Los Angeles’ working poor – those who are employed yet remain in relative poverty– closed bank accounts in the past year, surpassing job loss or lack of money, according to a survey of predominately Hispanic, low-income households released by the Pew Health Group’s Safe Banking Opportunities Project.
"Hidden or unexpected fees” were cited as the number one reason Greater Los Angeles’ working poor, those who are employed yet remain in relative poverty, closed bank accounts in the past year, surpassing job loss or lack of money, according to a survey of predominately Hispanic, low-income households.
More info''If you've ever thought someone was playing fast and lose with the rules on your credit cards, credit score or mortgage, but you had no idea where to go with your complaint, you now have a place to turn.''
More info"A new study from the Pew Health Group shows a growing number of low income and minority families are using alternative financial services instead of the traditional banking system."
More info"Unbanked and underbanked consumers are also less likely to save, says Eleni Constantine, director of the Pew Health Group's Financial Services Portfolio. In a survey of low-income Los Angeles households, Pew found that more than twice as many consumers who had bank accounts said they were earning enough to pay their bills and save for the future than those who didn't have bank accounts."
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