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Bank On National Account Standards (2023-2024)
Working closely with our Bank On National Advisory Board and other key stakeholders, the CFE Fund released the Bank On National Account Standards. These standards provide local programs with a benchmark for account partnerships with financial institutions, and include both core and recommended features.
Intergenerational Wealth Transfer through FEC Counseling: A Multi-City Legacy Planning Pilot
The lack of intergenerational wealth transfer is a driving force preventing residents with low incomes from building wealth. With funding and partnership support from Bloomberg Philanthropies’ Greenwood Initiative, the CFE Fund and four local governments partnered on a novel effort to help individuals and families build and transfer wealth across future generations by integrating estate planning, or “legacy planning,” into existing FEC counseling services.
The Supervitamin Quarterly Newsletter, Issue 26
In this issue, Issue 26, the CFE Fund celebrates its 10-year anniversary and provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including an announcement that the Bank On movement has certified over 250 bank and credit union accounts, helping newly bank 3.1 million residents.
CFE Fund Comment Letter on Community Reinvestment Act Reform
The CFE Fund recently submitted a comment letter to the Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) on their proposal to amend the regulations implementing the Community Reinvestment Act (CRA).
The Citi Foundation and CFE Fund Launch Ninth Year of Summer Jobs Connect
This press release announces an additional $3.5 million in support from the Citi Foundation to provide more than 145,000 low-income youth with summer jobs and access to financial education as part of Summer Jobs Connect in 2022; the Summer Jobs Connect initiative is also supported by The Skillman Foundation and the PNC Foundation.
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.