South has highest percentage of unbanked and underbanked
December 3, 2009 — By a whopping percentage, the South has the highest percentage of households which don't have checking or saving accounts, according to a survey by the Federal Deposit Insurance Corp. According to the FDIC's National Household Survey, 9.5 percent of households are "unbanked" in the South, the only region of the country which falls below the national average of 7.7 percent. The percentage in all the other regions is between 6 and 7 percent. Mississippi has the highest percentage in the country with 16.4 percent, followed by Georgia and Alabama. The FDIC said the region also has the highest percentage -- 20.5 percent -- of households which are "underbanked": they have a bank account but rely on pawn shops, checking services, payday loans or similar non-bank instruments to meet their financial needs. -- Saying she is "troubled" by the way Arkansas handled the case of Maurice Clemmons, the parolee who shot to death four police officers in a Tacoma suburb, Washington Gov. Chris Gregoire said her state will no longer accept supervision of parolees from Arkansas until steps are taken to insure the safety of residents. This news came as it was learned that Clemmons' alleged getaway driver also served time in Arkansas and is wanted in the state on robbery and parole violation charges. -- Mississippi utility regulators have approved Entergy Mississippi's plan for a half-billion dollar expansion of its Grand Gulf Nuclear Power Plant. The project, which is expected to be completed in 2012, would make the facility the largest single-unit nuclear power plant in the country. -- North Carolina Treasurer Janet Cowell is establishing a $250 million equity fund that will invest in companies with significant operations in the state. The Innovation Fund will seek to make money for the state pension fund and foster job growth in the state. Follow Tom Baxter on Twitter. |
