Roughly Speaking: The president vs. the press

World Bank Group

U.S. must prioritize financial inclusion

U.S. must prioritize financial inclusion

An issue that received short shrift during the 2016 election was the urgent need to give all Americans access to the banking system — the system that we all pitched in to rescue after the economic bust of 2008.

Twenty-seven percent of U.S. households, or about one in four, do not have access to the full range of banking services. Meanwhile, 7 percent of Americans are considered "unbanked," meaning they don't have access to an insured bank account or to any banking services. And roughly 20 percent of American households are considered "underbanked": They have a bank account, but they do not use the banking system to meet transaction or credit needs.