This month, CEO and President of CFSI, Jennifer Tescher, concentrates on the Redefining the Underserved Consumer in her American Banker article. 

With new talk about checking account fees and their impact on the financially underserved, there has been little focus on actual consumers. Tescher reminds us who "they" are. 

With 30 million households falling into the "underserved consumer" category, its quite impossible to generalize these people into narrow categories. The fact is, there is no monolithic "underserved consumer." They aren’t all the same. And most of them aren’t who you think they are. Often times it is assumed that income level, race or ethnicity are the driving factors which contribute to a consumer being "underbanked". However, CFSI finds that these are not the driving factors, but that it is more about preferences, cash flow and behavior.

See the full article here on American Banker.