underbanked
Adjective
Having inadequate access to financial services or formal banking facilities.
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More examples (2)
In some contexts, the fact that the unbanked or underbanked individuals use fringe banking services is a matter of some considerable concern since they tend to be associated with exorbitant costs and unfair conditions.
According to a 2004 report by the Federal Deposit Insurance Corporation, the “rapid growth of the underbanked Hispanic market suggests a new growth opportunity for many institutions.”
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