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CFE Fund Comment Letter on Community Reinvestment Act Modernization
The CFE Fund recently submitted a comment letter to the Federal Reserve Board on Community Reinvestment Act (CRA) modernization. Citing experiences from the Bank On movement, as well as the FECPublic initiative, the CFE Fund recommended that the CRA examination process should credit financial institutions’ provision of safe and affordable banking accounts and support for meaningful financial inclusion efforts.
The Supervitamin Quarterly Newsletter, Issue 22
This issue, Issue 22, provides updates on CFE Fund’s and partner cities’ COVID-19 response efforts.
Since the pandemic began, 31 cities and counties have launched Financial Navigators initiatives to provide phone-based financial triage and resource referrals; 35 municipal Financial Empowerment Center (FEC) partners are offering, or are working to launch, one-on-one financial counseling through FEC programs; and more than 80 Bank On coalitions are working to connect their communities to safe and affordable banking products so they can safely receive and use stimulus payments, unemployment benefits, wages, and more.
The Supervitamin Quarterly Newsletter, Issue 21
This issue, Issue 21, details how the CFE Fund and our city partners continued to respond to COVID-19. Financial Empowerment Center initiative partners received CFE Fund support to meet increased demand due to the COVID-19 pandemic; the CFE Fund continued building out its newest program, the Financial Navigator initiative, to help cities provide remote financial triage and referrals; and the CFE Fund released the 2021-2022 Bank On National Account Standards.
Video: Summer Jobs Connect – COVID-19 Didn’t Stop SYEPs
Each year, over 110,000 young people work summer jobs and are supported through financial education, banking access, and other financial empowerment resources as part of the CFE Fund’s national Summer Jobs Connect (SJC) initiative, supported by the Citi Foundation.
Over 50 Cities and Counties Offering Financial Counseling or Navigation Services To Build Resident Financial Stability During COVID-19
In this August 2020 press release, the CFE Fund announced that more than 50 city and county governments across the country will expand financial counseling and financial navigation services for their local residents in need.
Meeting the Emergency Moment: Key Takeaways from Delivering Remote Municipal Financial Counseling Services
Local governments across the country are working to help their residents weather the health and financial impacts of the COVID-19 pandemic. In many cities and counties, that means deploying their Financial Empowerment Centers (FECs), which provide professional, one-on-one financial counseling as a public service.
Navigating From a Good Idea to Public Financial Empowerment Commitments: An Outline of the CityStart Process
This brief, Navigating From a Good Idea to Public Financial Empowerment Commitments, outlines the experiences of the past two CityStart cohorts in moving from general interest in financial empowerment to concrete commitments to municipally-led efforts.
The Supervitamin Quarterly Newsletter, Issue 20
This issue, Issue 20, details the CFE Fund’s and city partners’ response to COVID-19. Financial Empowerment Center initiative partners pivoted to remote counseling; the CFE Fund announced a new program, the Financial Navigator initiative, to help cities provide remote financial triage and referrals; and Bank On coalition partners shared information about safe bank and credit union accounts that could be used to receive stimulus and other emergency payments.
New Cities Selected to Launch Local Consumer Financial Protection Efforts
This press release announces the second cohort of the Local Consumer Financial Protection initiative, generously supported by the Annie E. Casey Foundation. Chattanooga, TN; Detroit, MI; Philadelphia, PA; Shelby County, TN; and St.