Author: Katie Plat

The Skyline: How Two States Are Leveraging Their Unique Powers to Boost Financial Empowerment

Posted on by Katie Plat

As the federal government has stepped back from local support, state governments have made exciting inroads to support residents’ financial stability. In New York, Governor Kathy Hochul and the Department of Financial Services issued innovative guidance around low-cost banking, deploying creative ways to modernize and advance banking access through regulatory infrastructure. And in Colorado, Attorney General Phil Weiser oversaw the establishment of a state Office of Financial Empowerment to centralize and expand collaborative financial empowerment initiatives and consumer financial protection awareness.

Click here to read the Skyline and learn about this important work.

And click here to subscribe and get the next issue of the Skyline in your inbox.

Three Counties Selected to Add Financial Stability Resources into Local Emergency Response Plans

Posted on by Katie Plat

In this April 2026 press release, the CFE Fund announced the launch of the second Emergency Financial Empowerment cohort. Montgomery County, MD; Orange County, FL; and Sonoma County, CA will each receive $150,000 grant and technical assistance to connect financial empowerment supports to emergency preparedness and response procedures. These supports could range from expanding individual financial counseling to prepare for emergencies to helping residents navigate requirements across federal grant and loan applications after a disaster.

Read the full press release here. 

CFE Fund Launches Fifth National Bank On Fellowship with Support from the Wells Fargo Foundation

Posted on by Katie Plat

In this April 2026 press release, the CFE Fund announced the launch of the fifth national Bank On Fellowship cohort, made possible by a $1 million grant from the Wells Fargo Foundation. The five full-time Bank On Fellows will each serve a two-year term helping to connect consumers in their localities to safe, affordable banking accounts, demonstrating the power of dedicated coalition leadership. 

Read the full press release here. Visit www.joinbankon.org to learn more about the Bank On movement. 

CFE Fund Comment Letter on the Financial Literacy and Education Committee’s Review of the U.S. National Strategy for Financial Literacy

Posted on by Katie Plat

The CFE Fund recently submitted a letter to the U.S. Department of Treasury Office of Consumer Policy regarding the Financial Literacy and Education Commission (FLEC)’s annual review of the U.S. National Strategy for Financial Literacy. Citing the findings of the Bank On movement, we urged FLEC to take advantage of this review as an opportunity to identify bankable moments–recurring points at which individuals receive income or engage with public systems and are making immediate decisions about how to manage their money. In particular, we identified 9 examples of bankable moments — from IRS tax refunds to veterans benefits to Housing Choice vouchers. By leveraging these moments, the federal government can help bring more consumers into the financial mainstream.

Read the full letter here.

Cities for Financial Empowerment Fund Launches Free Legacy Planning Supports to Increase Asset Protection and Intergenerational Wealth

Posted on by Katie Plat

In this October 2025 press release, the CFE Fund announced the launch of free legacy planning services as a core component of the national Financial Empowerment Center (FEC) model. FECs across the country will now help clients with legacy planning and taking steps to protect their assets. This new service is an addition to the FEC model, which also supports clients in money management, budgeting, reducing debt, establishing and improving credit, connecting to safe and affordable banking services, and building savings through free, one-on-one professional counseling as a public service.  

Read the full press release here. Visit www.fecpublic.org to learn more about the FEC model. 

The Skyline: How Two Municipalities Built Innovative Approaches to Local Consumer Financial Protection

Posted on by Katie Plat

To ensure strong financial futures for residents, local governments increasingly are using their unique
powers to protect consumers from scams, fraud, and financial abuse. Two municipalities offering
notable consumer protection models are Cuyahoga County, OH—who launched a “Scam Squad”
to combat financial scams—and Denver, CO, who passed an innovative wage theft ordinance and
launched an accompanying complaint hotline to support enforcement.

Click here to read the Skyline and learn about this important work.

And click here to subscribe and get the next issue of the Skyline in your inbox. 

CFE Fund Comment Letter on the Proposal to Rescind the 2023 Community Reinvestment Act Final Rule

Posted on by Katie Plat

The CFE Fund recently submitted a letter to the Federal Deposit Insurance Corporation in response to their request for comment on the proposed rulemaking rescinding the 2023 Community Reinvestment Act Final Rule (CRA). Citing the findings of our Bank On and Financial Empowerment Center initiatives—which have demonstrated how access to safe and affordable banking accounts is imperative to individual financial stability—we urged supervising agencies to ensure that banks offering accounts that benefit the local community receive CRA credit, regardless of the rule set chosen by regulators. This credit serves as a significant motivator for financial institutions to continue offering these pivotal accounts.

Read the full letter here.

The Skyline: How Two Transit Agencies Leveraged Payment System Changes As Banking Access Opportunities

Posted on by Katie Plat

By connecting riders to Bank On certified accounts, two local transit agencies used the shift to contactless payment to help bring riders into the financial mainstream. Read the full issue here. 

And click here to subscribe and get the next issue of the Skyline in your inbox. 

Six Cities to Develop Local Wealth Building Strategies

Posted on by Katie Plat

In this June 2025 press release, the CFE Fund announced that six new cities have been chosen to join the next CityStart cohort. The CityStart initiative helps local leaders develop and implement proven strategies to help local families and communities become more financially stable.

The CFE Fund will partner with the cities of Kansas City, MO; Memphis, TN; Milwaukee County, WI; Savannah, GA; Springfield, MA; and St. Petersburg, FL. Through the CityStart initiative, each city will receive a $100,000 grant to help craft innovative, actionable blueprints tailored to their communities that foster financial stability across generations. The blueprints will align with and serve to support each local Administration’s priorities and partnership opportunities.

Read the full press release here.

Seven Cities Enhance Small Business Services by Offering Financial Counseling for Entrepreneurs

Posted on by Katie Plat

In this March 2025 press release, the CFE Fund accounced the selection of seven local governments to offer small business owners and entrepreneurs one-on-one Financial Empowerment Center (FEC) financial counseling through the CFE’s Small Business Boost (SBB) initiative. Selected partners (which include Akron, OH; Aurora, IL; Columbus, OH; Louisville, KY; Polk County, IA; Rochester, NY; and Sacramento, CA) will connect their Financial Empowerment Center initiatives, which offer professional, one-on-one financial counseling as a free public service, to local business support services.

Read the full press release.