Record low 5.6 million households remain unbanked

President and CEO Rob Nichols said proposed rules threaten affordable deposit account products

Viewed as a critical component of the roadmap to driving economic mobility and financial access for those most in need

Research indicates that underbanked communities feel the sector will change significantly in the next few years

Branches offering Bank On certified accounts have risen significantly as the US seeks to address its “unbanked” population

Almost half of all US bank branches offer a Bank On-certified account

Recommendations include Bank On-certified accounts, greater flexibility around identification and financial education

Plus: Zions Bank achieves Bank On certification

‘Perpetuation of inequality is a deepening problem, while pace of technology is increasing’ says Acting Comptroller

First-of-its-kind competition challenges organisations to identify resources and tools for unbanked people across the US