From the Washington Post: Blacks, poor lack access to banks
FDIC report finds one-quarter of U.S. households exist largely below radar of financial institutions.
... On Wednesday, Sen. Herb Kohl (D-Wis.) proposed legislation aimed at encouraging banks to compete with payday lenders and provide small, short-term loans to unbanked and underbanked consumers. The legislation would establish a federal fund to guarantee up to 60 percent of those loans. In return, banks must cap the loans at $2,500 and the interest rates at 36 percent, among other requirements.
"As we consider changes to our financial system, we should include reforms that will help increase access to many of those who are left out," Kohl said in a statement.