Political Quotes

“I thank and congratulate the gentleman from Georgia (Mr. David Scott), my good friend, on so much heavy lifting and the work that he has done to bring this bipartisan piece of legislation to the floor, along with our former colleague from Wisconsin (Mr. Duffy) who was also very involved with you, Madam Speaker, on this bipartisan piece of legislation, H.R. 4067. According to the most recent FDIC survey of unbanked and underbanked households, 6.5 percent of U.S. households were unbanked in 2017, meaning no one in the household had a checking or savings account. That equates to approximately 8.4 million American households. {time} 1715 The same survey showed that an additional 18.7 percent of households were underbanked, meaning that the household had a bank account but also obtained financial services outside the mainstream banking system. That is more than 24 million U.S. households composed of nearly 50 million adults and 15 million children, Madam Speaker. These statistics point to the staggering number of Americans who have limited access to traditional banking services. While these numbers have, thankfully, declined since the financial crisis, the Consumer Financial Protection Bureau's Office of Community Affairs has and continues to engage in efforts to examine the unbanked and underbanked, as well as allocate resources to Americans who remain credit invisible.…”