Huge numbers of Americans opting out of banking systemSubmitted by legalizeliberty on Sat, 09/22/2012 - 15:22
(NaturalNews) Across the United States, more and more people are opting out of the banking system, according to a report from the Federal Deposit Insurance Corp.
According to the report, 821,000 households (approximately 17 million people) were without a single bank account from 2009 to 2011. Those numbers place the "un-banked population" at 8.2 percent of the U.S. population.
An additional 51 million people told researchers that although they have a bank account, they also make use of payday lenders, pawnshops, rent-to-own services, money orders or other such alternative financial services. This population, known as under-banked, has increased to 20.1 percent of U.S. households from the prior figure of 18.2 percent. Overall, a full 28.3 percent of U.S. households have either zero or one bank account for the whole household.