RBR: Banks Could Use Some Help From Broadcasters

Jim Carnegie reports that federal officials are pressing banks to find and serve unbanked and underbanked people in their communities. But the first-ever national survey by the FDIC finds that most banks aren’t having much success. One reason is that many aren’t trying very hard, but the feds may change that by providing “oversight and guidance” to the banks – a euphemism for the heavy hand of government regulation. But this looks like an opportunity for broadcasters, particularly those serving minority communities, to help the banks help themselves avoid more government mandates.

The FDIC’s survey found that a majority of banks – 63% – offer basic financial education materials, but fewer participate in the types of outreach efforts that are viewed by the industry as most effective to attract and maintain unbanked and underbanked individuals as long-term customers.

Take a copy of the FDIC report along (posted as a pdf on this page) when you present your marketing plan to a local banker.