By Guest Blogger Michael Morris, National Disability Institute Executive Director
All Americans should have equal opportunity to achieve financial independence, while also acquiring the skills to effectively manage their finances and make informed financial decisions.
Unfortunately, at the present time, this is not the case. Even now, 25 years after the Americans with Disabilities Act (ADA) promoted “economic self-sufficiency” for people with disabilities, we continue to face many systemic hurdles that block access to a life of financial independence. Overcoming these challenges will not be easy, but today – for the very first time – we have a clearer picture of the path forward – with the release of a new National Disability Institute (NDI) report, Banking Status of Adults with Disabilities: Findings from the FDIC Survey of Unbanked and Underbanked Households.
Based on data mined from FDIC’s 2013 National Survey on Unbanked and Underbanked Households, the report highlights the nearly 50 percent unbanked and underbanked status and financial behaviors of people with disabilities. This report provides much-needed quantitative data that – until now – has been missing in research being conducted at the intersection of the disability and asset development communities.