Overview
Key Takeaway
Fundamental Bank On principles include availability of access to accounts that meet National Account Standards, including through government programmatic integrations.
The CFE Fund leads a national movement that supports local Bank On coalition efforts to expand banking access for consumers outside the financial mainstream, including through municipal infrastructure. Based on local efforts and lessons learned, the CFE Fund put together these Bank On Guiding Principles to outline fundamental shared ideals of the Bank On movement and local coalition priorities.
Additional Takeaways
Bank On coalitions are an effective mechanism for connecting consumers with bank accounts.
Financial institutions and policymakers should minimize banking access barriers like account screening or identification issues.
A learning community of Bank On coalitions drives thought leadership and best practice dissemination.