“Despite unprecedented economic challenges posed by the COVID-19 pandemic, nearly 96 percent of U.S. households were banked in 2021, according to the latest national survey released today by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s 2021 National Survey of Unbanked and Underbanked Households also found an estimated 4.5 percent of U.S. households (representing 5.9 million households), lacked a bank or credit union account, the lowest national unbanked rate since the FDIC survey began in 2009. According to FDIC’s latest biennial survey, approximately 1.2 million more households were banked since 2019. Nearly half of newly banked households that received government payments said these payments contributed to their decision to open an insured bank or credit union account. Meanwhile, 14.1 percent of households (representing 18.7 million households), were underbanked in 2021, meaning they had a bank or credit union account and used nonbank financial products and services.”

“The Federal Deposit Insurance Corporation (FDIC) has issued cease-and-desist letters to FTX US and four other crypto companies for allegedly making “false and misleading statements” about federal deposit insurance. FTX US, Cryptonews.com, Cryptosec.info, SmartAsset.com and FDICCrypto.com have been directed to “take immediate corrective action to address these false or misleading statements,” the FDIC announced.”

“The Federal Deposit Insurance Corp. on Monday issued a wide-ranging request for information on activities by banks to facilitate customers’ use of cryptocurrencies and other digital assets. The request, previewed by FDIC Chair Jelena McWilliams last week , also asks for feedback on the factors that regulators should weigh as they develop supervisory practices for the use of digital assets…The request for information breaks down potential digital asset activities into four categories, including “technology solutions” involving payment systems and “other token-based systems for banking activities.””