The Office of the Comptroller of the Currency (OCC) encourages national banks and federal savings associations (collectively, banks) to support the financial capability and financial health of their customers, particularly during National Financial Capability Month in April.
Banks promote financial capability by supporting programs that expand financial literacy through high-quality financial education and promote access to financial services for all consumers, including those who are underserved.
“Improving customers’ financial capabilities is good for communities and for banks,” said Acting Comptroller of the Currency Michael J. Hsu. “People who lead healthy financial lives spend smarter, save more, and borrow and invest more wisely. National Financial Capability Month is a time to reassess and redouble our efforts to expand financial inclusion, increase financial literacy, and empower consumers.”
As part of its mission, the OCC offers several resources to help banks provide high-quality financial literacy education and services for consumers and communities that are safe, sound, and fair. The OCC encourages banks to direct consumers to the agency’s HelpWithMyBank.gov website for answers about banking services and to resolve questions or problems that consumers may have with their banks. In addition, the OCC posts helpful resources and publications on financial literacy education on its OCC.gov website.
The OCC’s Community Affairs office issues publications and resources on financial capability and financial literacy topics. These resources include the quarterly Financial Literacy Update and the Financial Literacy Resource Directory. The OCC also has Community Affairs Officers across the nation to assist banks in providing financial literacy education and other services for their consumers and communities. These officers can explain how banks can support National Financial Capability Month and find other ways to expand access to financial literacy education, credit, and capital in their communities.