...account for managing your money remotely, including to receive wages and government benefits securely through direct deposit and make payments remotely. Engaging Unbanked People About Safe Banking Accounts, Particularly During...
...the addition of CRA-based incentives for municipal financial empowerment services, such as for financial institutions that partner with municipalities to offer Bank On appropriate accounts, support children’s savings strategies, and...
This brief details how the FEC model’s partnership and integration process worked in the five replication cities, and is excerpted from the CFE Fund’s full report, An Evaluation of Financial...
...account engagement. Finally, the CFE Fund supported the agencies’ proposal to create a separate definition for activities that help individuals and families make informed decisions about managing income, savings, credit,...
...to use the tool; and urges caution as the FDIC explores moving towards online survey responses, given some un/underbanked and low-income consumers’ reluctance to submit personal information via online platforms....
...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...
Financial Empowerment Center (FEC) clients receive free, one-on-one professional counseling assistance with money management, budgeting, reducing debt, establishing and improving credit, connecting to safe and affordable banking services, building savings,...
...grantees of the expanded FEC program: Akron, OH; Detroit, MI; Greenville County, SC; Houston, TX; Miami, FL; New Haven, CT; Pittsburgh, PA; Sacramento, CA; San Francisco, CA; Memphis, TN; Shreveport,...
...Bank On certified accounts were opened in 2019. With the certification of BMO Harris’ Smart Money™ Account, BOM Bank’s EZ Checking account, Rio Grande Credit Union’s Fresh Start Checking, US...
...local offices of consumer protection, strategic planning efforts, targeted consumer financial awareness campaigns, and an ongoing national learning community. Please contact Kant Desai, Senior Principal, with any questions or to...