Twenty-five percent of U.S. households are unbanked or underbanked, according to a 2017 survey by the FDIC. Those are people who either don't have a bank account, or have an account, but still use financial services outside the banking system.
After two fires in her homes in the Mississippi Delta, Farrah Appleberry and her four daughters were left destitute and in bankruptcy.Hope Credit Union, focused on economically distressed areas in the South, brings basic banking services to the nation's poorest.
In February, Federal Reserve Chairman Jerome Powell made a historic visit to the Mississippi Delta, speaking with students at Mississippi Valley State University and delivering remarks at a conference to shine a light on the problem of the unbanked. "Once I get out of bankruptcy, it may not be the biggest account, but I'm looking to have enough money in Hope, if I have a dry day, me and my girls will still make it. I have to learn to save small to get to big."
And organizations like the Opportunity Finance Network help connect public and private funding to CDFIs.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
US added only 20,000 jobs last month -- fewest since September 2017The US economy added 20,000 jobs last month, a surprisingly low number that bucks trends. Unemployment fell to 3.8% as fewer people looked for work.
और पढो »
U.S. auto fleet hit record high fuel efficiency in 2017The U.S. Environmental Protection Agency said on Wednesday that the average fuel...
और पढो »
Alabama's Roy Moore, undone by allegations, considers new Senate runAlabama Republican Roy Moore, whose unsuccessful 2017 campaign for the U.S. Sena...
और पढो »
Twenty US states join hands to fight climate changeClimate change and population growth could cause water shortages in most of the United States, preliminary government-backed research says.
और पढो »
Exxon Mobil downgraded, stock target cut 25% amid natural gas spendingExxon Mobil doesn't plan to cut its natural gas spending, meaning reduced cash flow and limited upside for the stock, Cowen told its clients.
और पढो »
Only 25 percent of Americans know this effective tax-saving strategy is legalOnly 25 percent of Americans know this effective tax-saving strategy is legal via CNBCMakeIt
और पढो »
Eventbrite crashes 25% after giving weak revenue guidanceThe company said it sees first-quarter revenue between $80 million and $84 million. That's far short of the $91 million analysts polled by Refinitiv had forecast.
और पढो »
25 killed as truck carrying Central American migrants overturns in MexicoAuthorities in the southern Mexico state of Chiapas say at least 25 migrants died when the truck they were traveling in overturned. Chiapas is the historic entry point for Central American migrants arriving in Mexico from Guatemala.
और पढो »
One chart shows how much more men make than women in 25 major citiesIn 2017, American women earned approximately 19.3% less than their male colleagues. But that percentage varies widely by race and location.
और पढो »