ABA: Foundation Announces Partnership with AMBA to Improve Financial Health of America’s Veterans
The ABA Foundation today announced the signing of a formal agreement with the Association of Military Banks of America (AMBA) to support the Veterans Benefits Banking Program (VBBP) and its goal of ensuring that America’s veterans have safe and easy access to their monetary benefits. The ABA Foundation will serve as AMBA’s 501(c)(3) non-profit fiscal sponsor for…
CFPB: Report Released on Banking Access and Consumer Finance in Southern States
Reports highlight gaps and identify opportunities to improve financial outcomes for many Southerners The Consumer Financial Protection Bureau (CFPB) today issued two new reports on the financial opportunities and challenges facing Southern communities. The Southern U.S. is home to diverse populations, including many rural areas. Many areas of the Southern region are considered “banking deserts”…
FDIC: New National Survey Finds that Despite COVID-19 Pandemic, Record 96% of U.S. Households Were Banked in 2021
Latest FDIC national survey finds record low six million households remain unbanked Despite unprecedented economic challenges posed by the COVID-19 pandemic, nearly 96 percent of U.S. households were banked in 2021, according to the latest national survey released today by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s 2021 National Survey of Unbanked and Underbanked Households also…
CFPB: New Proposed Rule Seeks to Halt Negative Credit Reporting for Survivors of Human Trafficking
Proposed rule will aid survivors seeking to open bank accounts, access credit, and gain employment Today, the Consumer Financial Protection Bureau (CFPB) is using its rulemaking authority to propose that consumer reporting agencies (CRAs) do not prevent survivors of human trafficking from achieving financial independence. The proposed rule would protect survivors of human trafficking by…
OCC: Acting Comptroller Launches Project REACh Efforts in Dallas
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, bankers, and business leaders to launch Dallas REACh. The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and technology…
OCC: Project REACh Efforts Launched in Detroit
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch Detroit REACh. The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and technology to identify…
FDIC: #GetBanked Campaign Expanded to Los Angeles, Dallas and Detroit
Public awareness push to promote financial inclusion among the unbanked As part of its ongoing work to expand financial inclusion to unbanked individuals and families, the Federal Deposit Insurance Corporation (FDIC) today announced it will expand its #GetBanked public awareness campaign into the Los Angeles, Dallas, and Detroit metropolitan areas. The FDIC’s #GetBanked campaign is focused on…
ABA: Businesses, Financial Groups and ABA Join to Oppose Proposed Tax Information Reporting Requirement
The American Bankers Association today joined more than 40 organizations representing a cross-section of financial and business interests in sending a letter to Speaker of the House Nancy Pelosi, Minority Leader Kevin McCarthy and all members of the House of Representatives strongly opposing a proposal under consideration as part of the reconciliation package that would establish an…
FDIC: Three Winning Teams Selected in FDITECH Tech Sprint to Reach the Unbanked
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of three winning teams in a ‘tech sprint’ designed to explore new technologies and techniques to help banks meet the needs of unbanked consumers. The tech sprint’s evaluation panel selected the following organizations as winners in the following categories: Category Team Name Organizations Creativity Goalsetter…
FDIC: FDITECH Selects Eight Teams in Tech Sprint to Reach the Unbanked
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of eight teams to participate in a ‘tech sprint’ designed to explore new technologies and techniques to help banks meet the needs of unbanked consumers. The FDIC’s tech lab, FDITECH, launched Breaking Down Barriers: Reaching the Last Mile of the Unbanked on July 6, 2021. This first-of-its-kind…
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