Banks Set Sights On the 'Unbanked'
The Columbian (September 12, 2007)
Author: Jonathan Nelson
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The industry calls them the unbanked, an estimated 40 million households that don't have a checking or savings account.
Check-cashing outlets and similar businesses have served as their banks, and financial institutions have ceded that segment of the market in a quest for more lucrative customers. But growing competition and the push to increase deposits has many banks rethinking that strategy.Banks Set Sights On the 'Unbanked'
Among those banks are KeyBank, Wells Fargo and U.S. Bank.
It's not just the number of people that don't use banks that is drawing the...Try vLex for FREE for 3 days
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