An uncomfortable truth is that too many Americans still lack strong skills in personal financial management, which limits their opportunity to build long-term financial independence.
A 2020 Federal Deposit Insurance Corp. study found that about 7.1 million U.S. households are still “unbanked,” meaning they lack a checking or savings account at an insured financial institution.
Rodney Hood of the National Credit Union Administration shares his solutions to this growing issue in American Banker.
