...include low costs, no overdraft fees, robust transaction capabilities such as a debit or prepaid card, and online bill pay. Notable changes in the 2019-2020 Standards include allowing paper statement...
This issue, Issue 11, includes an update on the Financial Empowerment Center initiative and a new funding opportunity; news from Bank On and the recent conference; and an overview of...
...City of Jackson, MS; and Mayor Frank Scott Jr. of the City of Little Rock, AR. It also includes local updates from the CFE Coalition, and recent financial empowerment news....
...generous support from Citi Community Development, held a conference on the Professionalizing Field of Financial Counseling and Coaching in New York City. The conference convened expert stakeholders to share perspectives...
...specifically supportive of the inclusion of an expanded question evaluating a financial institution applicant’s checking or share account features and its use of Bank On National Account Standards as a...
...the short-term lending market that trap them in cycles of debt, and offers a number of recommendations. These include: the proposed full payment test should include standardized, transparent methods for...
...is part of the Citi Foundation’s global expansion of its Pathways to Progress initiative to invest $100 million to prepare 500,000 young people, ages 16-24, for today’s competitive job market....
...component of financial stability. In addition, the market is already moving in a positive direction towards no-overdraft products; changing the Overdraft Rule risks slowing the success of this positive shift....
...economically sustainable for financial institutions. The CFE Fund noted that our experience shows that interchange fees are a key part of that market sustainability. Read the full comment letter here....
...out the robust market of over 450 Bank On certified accounts across the country that do not allow overdraft, demonstrating the value of transparency and affordability in banking. This comment...