CFPB: It’s Not Too Late to Spring Clean Your Finances
Spring cleaning isn’t just for decluttering your home. You can take advantage of the changing seasons to clean up your finances and make sure you know where you stand. These steps can help you clean up your financial life as you work towards your goals. Here’s a few ways to get started spring cleaning your…
Census Bureau: Wealth and Asset Ownership Data Tables Released
The U.S. Census Bureau released today the 2013 Wealth and Asset Ownership Detailed Tables highlighting household net worth from the Survey of Income and Program Participation. These tables highlight annual household net worth estimates at the national level and are broken down by selected characteristics, such as race, household structure and poverty status. The Survey…
CFPB: Office of Servicemember Affairs Guides Military through Financial Hurdles
We’re releasing our fifth annual servicemember report, The Office of Servicemember Affairs: charting our course through the military lifecycle. Servicemembers matter. We created this report to highlight some of the most common financial struggles servicemembers face during their military careers. These struggles are well documented in the over 74,000 complaints we have handled from the military…
ABA: Call for Entries for the Foundation’s Community Commitment Awards
Deadline for entries is June 30 WASHINGTON — The American Bankers Association 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 bank programs that improve the quality of life for the customers and communities they serve. The entry period…
Federal Reserve: Where Do Banks Fit in the FinTech Stack?
Speech Governor Lael Brainard At the Northwestern Kellogg Public-Private Interface Conference on “New Developments in Consumer Finance: Research & Practice” We can learn a lot from the evolution of smartphones as we try to envisage where the fintech ecosystem–and banks’ role within it–might be heading in the future. Smartphones have ushered in an age when…
FDIC: Advisory Committee on Economic Inclusion to Meet This Week
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Thursday, April 27 to discuss measures banks may consider to reach underserved populations, such as collaborations with community-based organizations; resources for affordable mortgage lending; and new research that may be used to more effectively target resources to promote broader access…
CFPB: Effective Date Extension Finalized for Prepaid Accounts Rule
Today, we released a final rule delaying the general effective date of our rule governing prepaid accounts by six months. The rule will now take effect on April 1, 2018. We have also decided to revisit at least two substantive issues in the prepaid accounts rule through a separate notice and comment rulemaking process. We expect…
OCC: One-on-One Industry Meetings Announced as Part of Office of Innovation Office Hours
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will establish an office dedicated to responsible innovation and implement a formal framework to improve the agency’s ability to identify, understand, and respond to financial innovation affecting the federal banking system. “The OCC supports responsible innovation that enhances the safety and…
FDIC: FIL-13-2017 | FDIC Releases Report on Its Youth Savings Pilot and Launches New Network to Support Youth Savings Collaborations
Printable Format: FIL-13-2017 – PDF (PDF Help) Summary: The FDIC released a report on its Youth Savings Pilot program, which identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. The report from the FDIC’s two-year Youth Savings Pilot is based on the experiences of 21 diverse…
FDIC: Report Released on FDIC Youth Savings Pilot Program
The Federal Deposit Insurance Corporation (FDIC) today released a report on its Youth Savings Pilot program at a meeting of its Community Banking Advisory Committee. The pilot program identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. Financial education and school-based savings programs introduce young people…