FDIC Chair Speaks On Unbanked And Underbanked Survey

Martin Gruenberg, Acting Chair of the Federal Deposit Insurance Corporation, gave remarks yesterday to the National Association of Affordable Housing Lenders ("NAAHL").

In the speech, Acting Chair Gruenberg praised NAAHL's work on housing affordability as "vital to ensuring that all Americans can share in and contribute to their communities." He also noted the importance that NAAHL's work continue as there still are disparities in home ownership statistics between white and minority households.

He then turned to the 2021 National Survey of Unbanked and Underbanked Households, released by the FDIC on October 25, noting that "before families can achieve sustainable homeownership, they need to develop sound financial capabilities, including acquiring perhaps the most elementary financial asset of all, a relationship with an insured depository institution."