CBA Statement on FDIC Survey Highlighting Record Number of U.S. Households in Banking System

WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement in response to the Federal Deposit Insurance Corporation’s (FDIC) National Survey of Unbanked and Underbanked Households that found 96 percent of U.S. households were banked in 2023:

“The nation’s leading retail banks continue to work tirelessly to bring more Americans into the well-regulated, highly competitive financial system. While there is still work to be done, today's survey results are an important testament to the progress being made with the highest number ever recorded.

“With a steadfast focus on promoting economic growth and inclusion among underserved communities, banks are proud to work alongside partners across the country to further this objective. All the while, they remain fully committed to protecting and expanding access to valued financial tools that can help all consumers achieve their goals for years to come.

“As CBA has long conveyed, many of the financial regulatory proposals introduced in recent years – some of which have yet to be fully implemented – threaten to undue this tremendous progress and could ultimately debank many Americans while also restricting access to the valuable banking services they rely on for everyday needs.

“We look forward to working with the new Congress and Administration on advancing sound polices that promote the long-term financial health, stability, and success of the American consumer – ensuring we continue to move consumers and the economy forward, not backwards.”

CBA Advocacy

• To learn more about CBA’s Vision for America, which is a policy agenda intended to serve as a roadmap for policymakers across the ideological spectrum who recognize the valuable role banks – and their nearly two million employees across the country – play for consumers and the broader economy, visit OurVisionForAmerica.com.
• To learn more about how banks help Americans make their dreams come true by starting new chapters and opening doors, visit BanksBelieveInYou.com.