Overview
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.