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Consumer & Community Context

Accessible Version - Consumer and Community Context - August 2020

Figure 1. Had problem accessing funds due to delay in when money could be used

Percent

Income variability Underbanked Fully banked
Income varies often 19 7
Occasionally varies 18 6
Roughly the same 13 4

Note: The sample includes 10,646 consumers with a bank account. Key identifies bars in order from left to right.

Source: The authors’ calculation based on 2018 Survey of Household Economics and Decisionmaking data.

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Figure 2. Overdraft experience by household income

Percent

Income level Overdrew, among those with a bank account Paid overdraft fees, among those who overdrew
Below U.S. median 21 76
At or above U.S. median 18 67

Note: The sample includes 2,936 consumers with a bank account. Key identifies bars in order from left to right.

Source: The authors’ calculation based on 2018 Survey of Consumer Payment Choice data.

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Figure 1. Number of bank and thrift branches in the U.S.
Date Number of branches
12/31/1980 42,288
12/31/1981 43,953
12/31/1982 45,486
12/31/1983 46,608
12/31/1984 47,643
12/31/1985 49,172
12/31/1986 51,424
12/31/1987 52,771
12/31/1988 54,161
12/31/1989 55,818
12/31/1990 58,000
12/31/1991 59,256
12/31/1992 59,883
12/31/1993 61,276
12/31/1994 63,934
12/31/1995 66,062
12/31/1996 67,774
12/31/1997 69,643
12/31/1998 71,775
12/31/1999 73,957
12/31/2000 73,973
12/31/2001 75,151
12/31/2002 76,447
12/31/2003 78,226
12/31/2004 80,914
12/31/2005 83,396
12/31/2006 85,796
12/31/2007 86,388
12/31/2008 91,738
12/31/2009 92,030
12/31/2010 91,452
12/31/2011 91,273
12/31/2012 90,436
12/31/2013 89,168
12/31/2014 87,907
12/31/2015 86,843
12/31/2016 85,252
12/31/2017 83,585
12/31/2018 82,176
12/31/2019 81,409

Source: National Information Center (NIC).

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Figure 2. Which of the following best describes your views on the creation of a separately branded online-only division (i.e., a microbank) to attract loans and/or deposits?
Response Percent
We currently have an online-only division 2.2
We have discussed an online-only division but have not yet decided whether to implement it 15.2
We plan to start an online-only division 2.2
We have no plan to start an online-only division 80.5
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Figure 3. Number of SBOBs, by type
SBOB type Number
Full service 11
Deposit taking 24
Specialty lending 5

Note: As of June 2019.

Source: Based on author analysis of National Information Center data.

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Last Update: August 10, 2020