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 […]

FDIC: #GetBanked Campaign Exapnded 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. […]

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 […]

ABA: Statement on Bank On Account Milestone

“We are thrilled to learn that more than 100 financial institutions, including a growing number of America’s banks, now offer low-cost Bank On certified accounts. We congratulate the Cities for Financial Empowerment Fund, which created the Bank On standards, for this important achievement and for the CFE Fund’s ongoing efforts […]

ABA: Report Shows Addressing Unbanked & Underbanked Challenges Requires Multifaceted Approach

Enhancing existing programs, highlighting no- and low-cost bank account offerings, improving financial education, expanding broadband internet access, and encouraging the opening of bank accounts during government benefit program enrollment will help address the unbanked/underbanked challenge in the United States. A new report, Delivering Financial Products and Services to the Unbanked and […]

CDFI Fund: FY 2021 Small Dollar Loan Program Round Opens for Applications

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high cost small dollar […]

FDIC: Banker Teleconference on November 28th to Cover FDIC 2017 National Survey of Unbanked and Underbanked Households

FIL-73-2018 Summary: The FDIC will discuss the results of its 2017 biennial National Survey of Unbanked and Underbanked Households during a teleconference scheduled for Wednesday, November 28, 2018, from 2:00 p.m. to 3:30 p.m. Eastern Time. Other topics to be discussed include economic inclusion resources pertinent to community banks, including […]