Infographic
Money Under the Mattress? New Findings Show Growing Rates of Unbanked Americans
May 15, 2014
Results from the 2011 American Life Panel Survey
Format | File Size | Notes |
---|---|---|
PDF file | 0.1 MB | Use Adobe Acrobat Reader version 10 or higher for the best experience. |
The fraction of American households that have no savings or checking bank accounts (i.e., are "unbanked") has long been a concern for policymakers. In the current economic environment, new and timely data are critical to understanding the development of this issue. Estimates from a nationally representative sample of individuals, RAND's American Life Panel, suggest that in 2011: 15.5 percent of the population is unbanked; socioeconomically disadvantaged individuals are considerably more likely to be unbanked; unbanked households cite both financial barriers and personal preference as reasons for not having a bank account.
The research described in this report was conducted by RAND Labor and Population.
This report is part of the RAND Corporation occasional paper series. RAND occasional papers may include an informed perspective on a timely policy issue, a discussion of new research methodologies, essays, a paper presented at a conference, or a summary of work in progress. All RAND occasional papers undergo rigorous peer review to help ensure that they meet high standards for research quality and objectivity.
The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.