David Ellis of CNN.Money reports that the FDIC has published a study that says,
[A]pproximately 7.7% of all U.S. households, or 17 million Americans, were considered “unbanked,” meaning they did not have any sort of a checking or savings account.
The study says that the main reason people do not have bank accounts is because of a lack of funds, but I can think of another reason.
We regularly encounter delinquent taxpayers who, fearing an IRS bank levy, keep their money under the proverbial mattress or do their banking through a spouse or other relative. I think it’s reasonable to assume, then, that a healthy chunk of the 17 million “unbanked” Americans have some sort of IRS or state tax problem.
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