Unbanked and Unstable: The Financial Dilemma for Low-Income and Communities of Color 

On my way to the grocery store one morning, I stopped at an ATM to withdraw some money. I could see from the receipt balance that my work check had just been direct-deposited into my checking account. 

When I returned home, I turned my attention to paying bills and wrote out several checks. When I balanced my checkbook, I noticed the automatic withdrawals on my auto and homeowners insurance went through.  

My actions were some that many of us do every day, but they highlight a disparity many people take for granted. While almost 108 million or 82% of U.S. households are fully banked, millions don’t have access to basic banking services. Low-income and communities of color are some of the most vulnerable.  

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