ABA: Financial Services and Consumer Coalition Launches Borrower Awareness Campaign
‘Not Ok? That’s Ok’ Designed to Spur Borrowers Facing Hardship to Call Their Servicer or a Counselor Today, a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies, and think tanks – launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage…
HUD: $12.5 Million in Housing Counseling Grants Awarded
Supplemental funding will provide additional resources for HUD-approved housing counseling The U.S. Department of Housing and Urban Development (HUD) today awarded more than $12.5 million in supplemental housing counseling grants. These supplemental grants will support quality housing counseling services, including the foreclosure avoidance and rental counseling services used by many families as they work to…
ABA: Seven Banks Win ABA Foundation’s 2020 Community Commitment Awards
The American Bankers Association Foundation named seven banks as 2020 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized today at ABA’s Unconventional Convention. “This has been a challenging year in so many ways, and…
CFPB: Virtual Town Hall on Managing Money During the COVID-19 Pandemic with Pro Linebacker Brandon Copeland on October 27th
Consumer Financial Protection Bureau (Bureau) Director Kathleen L. Kraninger and Brandon Copeland, pro linebacker and University of Pennsylvania Professor, will host a virtual town hall to discuss how people can better manage their money during tough times. The event, titled “Pressure Creates Diamonds: Money Management During Coronavirus,” will take place on Tuesday, Oct. 27, 2020,…
ABA: Bank Employees Across U.S. Share Financial Knowledge with Students on Get Smart About Credit Day
Bank employees across the country will celebrate the American Bankers Association Foundation’s Get Smart About Credit Day on Oct. 15th by presenting virtual lessons to teens and young adults on a range of personal finance topics. Given the economic disruption from the ongoing pandemic, this year’s online campaign is particularly timely. Get Smart About Credit Day, celebrated…
CDFI Fund: Application Now Open for $1.9 Million in AmeriCorps Economic Mobility Corps Funding
AmeriCorps Providing Awards to Place National Service Members in CDFIs What is the Economic Mobility Corps? The Economic Mobility Corps (EMC) is a joint initiative of the Community Development Financial Institutions Fund (CDFI Fund) and AmeriCorps that places full-time national service members in Certified Community Development Financial Institutions (CDFIs) to enhance their capacity to provide financial literacy, financial planning,…
ABA: Foundation and Junior Achievement Announce Partnership to Empower America’s Youth with Money Skills
The American Bankers Association Foundation and Junior Achievement today announced a new two-year partnership to work collaboratively to help our nation’s youth build the financial knowledge they need to own their economic success and plan for the future. The ABA Foundation and Junior Achievement will work in tandem to bring financial concepts to students across…
CFPB: New Podcast Series Announced Focused on Paying for Higher Education
The Consumer Financial Protection Bureau (Bureau) today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college. The podcast series, Financial inTuition, will include interviews with experts in financial aid, student loans, financial coaching, and planning. The podcasts also will highlight the Bureau’s…
CFPB: New Resources Released to Help Employers Develop Emergency Savings Programs for Workers
The Consumer Financial Protection Bureau (Bureau) today announced that it issued a Compliance Assistance Statement of Terms Template (CAST Template) under its Compliance Assistance Sandbox (CAS) Policy to Build Commonwealth, Inc (Commonwealth). Employers interested in creating an automatic savings (Autosave) program as a way for employees to build emergency savings and increase their financial resiliency…
CFPB: Report on Debt Settlements and Credit Counseling Released
The Consumer Financial Protection Bureau (Bureau) released a report today examining recent trends in debt settlement and credit counseling. Many Americans struggle with their debts, especially during times of crisis. Today’s report documents changes over time in how consumers have used these debt relief options for unsecured debt. Using the Bureau’s Consumer Credit Panel (CCP),…