FDIC Using Technology to Bring Banking to the Disabled

Banking Exchange
Friday, July 31, 2015

Technology could address the economic exclusion experienced by many disabled Americans, FDIC Chairman Martin Gruenberg said at a recent meeting of the National Disability Institute. Gruenberg cited a 2013 FDIC Survey that found one in five unbanked or underbanked households is headed by an individual with disabilities. Half of these households rely on alternative financial services. Gruenberg emphasized the importance of providing banking services to households headed by disabled consumers and encouraged bankers to explore technological solutions for disabled consumers such mobile banking, prepaid cards and direct deposit.