6  BIS central bankers’ speeches  •  The survey also found that one in every five American households is “underbanked”, meaning that they have a bank account but also rely on alternative services – typically, high-cost products such as payday loans, cheque-cashing services, non-bank money orders or pawn shops.
•  Not all the unbanked are poor, nor do all poor people lack bank accounts. But the rate of the unbanked among low income households (defined in the FDIC survey as those with an annual income below $ is more than three times the overall rate. Disturbing questions about financial literacy 24. [Economist] – financial literacy •  Here is a test.