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ABA: The American Bankers Association

ABA Statement on FDIC’s How America Banks Report

“We are encouraged by today's FDIC report that found a record number of American households had bank accounts last year. However, millions of Americans still lack access to the mainstream financial system and many of those are lower-income households and households of color. Our industry is committed to expanding access to safe and affordable banking services, which is why we launched a new initiative today encouraging every bank in the country to offer Bank On-certified accounts. These highly affordable and functional accounts feature low costs, no overdraft fees and robust capabilities like debit or prepaid cards and online bill pay. With more banks offering these kinds of accounts, we can further expand access to the mainstream banking system and all the economic opportunities that come with a bank account.

"We also applaud our nation's core processors, which provide the operational backbone behind many banks, for supporting this new initiative by committing to make it easier for their bank clients to offer these accounts. We look forward to working with the FDIC and other stakeholders to bring more Americans into the banking system, which will help create a strong foundation for shared prosperity."


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.9 trillion in deposits and extend $11.4 trillion in loans.

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