The working person’s bank account: A new proposal for universal banking

Tuesday, December 1, 2026, 3:00 - 5:00 p.m. EST 
Online: https://www.brookings.edu/events/the-working-persons-bank-account-a-new-proposal-for-universal-banking/

It is time to update the basic bank account to fit the needs of modern Americans. You can port your cellphone number, but not your bank account. Every child now has a broker-dealer stock account, while millions of Americans don’t have a bank account. And the government sends paper checks to people months after emergency COVID-19 payments are approved, because Uncle Sam doesn't know how to get money to you.

Brookings Senior Fellow Aaron Klein surveyed more than 1,200 middle- and lower-income Americans about the financial services they want, spoke with bankers about what it takes to make a bank account work, and reviewed the products already on the market. Building on that research, he has sketched out a new proposal for a universal bank account, with features designed to solve the problems that cost Americans tens of billions of dollars a year.

On Tuesday, December 1, Klein will present his proposal and the data behind it at an event hosted by the Brookings Center on Regulation and Markets as a part of their “Series on Financial Markets and Regulation.” A panel of experts with industry, regulatory, and consumer experience will weigh in. Join us for the unveiling.

Online viewers can submit questions in advance via email to events@brookings.edu.