Industry News

CDFI Fund: FY 2015 Funding Round of BEA Program Open

Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2015 application round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s website in anticipation of the May 5, 2015 publication of the…

ABA: Call for Entries for ABA Community Commitment Awards

Deadline for entries is July 1, 2015 ​WASHINGTON — The American Bankers Association’s Community Engagement Foundation is requesting submissions for its annual Community Commitment Awards to recognize banks’ essential involvement in their communities. The awards will honor innovative, high impact contributions banks make to the customers and communities they serve. The entry period will extend…

OCC: Recognizing National Financial Capability Month

WASHINGTON — The Office of the Comptroller of the Currency (OCC) recognized National Financial Capability Month by participating in the annual Financial Literacy Day on Capitol Hill event today. OCC staff distributed financial capability materials at the event, including the agency’s Financial Literacy Update and OCC’s Consumer Advisories. Staff also highlighted the OCC’s HelpWithMyBank.gov Web site, which provides answers…

FDIC: New Resources for Teachers, Parents, and Caregivers to Strengthen Youth Financial Education

The Federal Deposit Insurance Corporation (FDIC) today launched Money Smart for Young People, a series of lesson plans for teachers and new resources for parents to help them teach children about managing money. The free resources are designed to improve financial education and decision-making skills among young people from pre-K through age 20. The FDIC…

ABA: Bankers Celebrate 19 Years of Teaching Children to Save

Estimated 293,880 children will be reached in 2015 through Teach Children to Save WASHINGTON — More than 14,000 bankers will host financial education events across the country this week as part of the 19th annual Teach Children to Save Day, on April 24. Since 1997, the program – sponsored by the American Bankers Association’s Community Engagement Foundation –…

FDIC: Phase II of Youth Savings Pilot Program Announced

The Federal Deposit Insurance Corporation (FDIC) is seeking applications from institutions for its Youth Savings Pilot, a program designed to foster financial education through the opening of safe, low-cost savings accounts by school-age children. Nine financial institutions are currently partnering with schools across the country as part of the initial phase of the FDIC’s Youth…

Federal Reserve: Accepting Statements of Interest for the Community Advisory Council

The Federal Reserve Board on Monday announced that it is accepting Statements of Interest from individuals who wish to be considered for membership on the Community Advisory Council (CAC). The formation of the CAC was announced in January. The council will advise the Board on issues affecting consumers and communities and will complement two of the Board’s…

CDFI Fund: Application Period for FY 2015 CDFI Bond Guarantee Program Open

Up to $750 Million in Bond Guarantee Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2015 application period for the CDFI Bond Guarantee Program. Application materials are available on the CDFI Fund’s website in anticipation of the publication of the Notice of…

CFPB: Nationwide Effort to Advance Financial Education in Schools Launched

CFPB Publishes Resource Guide for Policymakers WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau announced that it is launching a nationwide effort to advance financial education in schools. The Bureau is publishing “Advancing K-12 Financial Education: A Guide for Policymakers,” a resource guide which contains strategies for furthering the development and implementation of financial education…

Federal Reserve: Survey Provides Information on Mobile Financial Services

The use of mobile phones to access bank accounts, credit cards, or other financial accounts continued to increase among adults in the United States last year, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2015 (PDF). The report is the Board’s fourth looking at how consumers access banking services using mobile phones (“mobile…