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The Supervitamin Quarterly Newsletter, Issue 25
This issue, Issue 25, provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including an announcement that the Bank On movement has certified more than 200 bank and credit union accounts, with partner financial institutions comprising 56% of the U.S.
CFE Fund Announces New $19M Commitment from Bloomberg Philanthropies
In this November 2021 press release, the CFE Fund announced its latest partnership with Bloomberg Philanthropies that will greatly expand local government-led financial stability efforts across the country over the next three years.
The Supervitamin Quarterly Newsletter, Issue 23
This issue, Issue 23, provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including those related to COVID-19 recovery.
In advance of the newly expanded federal Child Tax Credit monthly payments, the CFE Fund and Bank On coalitions are highlighting the availability of safe and affordable Bank On certified accounts; the CFE Fund recently announced that there are over 100 accounts certified as meeting the Bank On National Account Standards.
CFE Fund and Wells Fargo Announce Third Cohort of Bank On Fellowship
This press release announced a $1 million grant from the Wells Fargo Foundation to increase the size of the Bank On Fellowship Program, which funds a full-time Bank On coalition leader for two years to focus solely on improving banking access for residents.
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.