CFPB: Report Finds 26 Million Consumers Are Credit Invisible
Bureau Also Finds That Black and Hispanic Consumers Are More Likely to Have a Limited Credit Record WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) published a report finding that 26 million Americans are “credit invisible.” This figure indicates that one in every 10 adults do not have any credit history with a nationwide…
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…