The American Bankers Association today expressed support for a recently finalized Department of Labor interim final rule implementing section 203 of the bipartisan Secure Act of 2019 to require that defined contribution plans (such as 401(k) plans) include two lifetime income illustrations on a plan participant’s pension benefit statement at least once every 12 months.
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior year, according to a report submitted to Congress today by the Federal Trade Commission.
The American Bankers Association honored seven banks today with its Brand Slam awards for bank marketing judged by a panel of 124 volunteers with Certified Financial Marketing Professional credentials.
Bankers across the country will deliver financial education lessons to teens nationwide virtually this year as part of the American Bankers Association’s Get Smart About Credit initiative, which is sponsored by Ally Financial, Citi, U.S. Bank and Wells Fargo.
The American Bankers Association Foundation today announced a two-year partnership with Junior Achievement to improve…
In a recent Charles Schwab survey, Americans flagged money management as the most important skill for children to learn, outranking the dangers of drugs and alcohol, healthy eating and exercise habits and safe driving practices.
As the nation observes American Housing Month in June—and as millions of Americans are now struggling to make monthly housing payments due to COVID-19—the ABA Foundation today launched a new housing relief resource page for individuals seeking information.
Compliance officers and CRA professionals can leverage the powerful resources in banks across the country to make an impact both now and throughout the extended recovery period from this national emergency.
With schools closed nationwide due to the coronavirus, bankers are taking their Teach Children to Save lessons online to bring students the fundamentals of financial literacy, including the basics of savings, how to create a budget and how to distinguish needs from wants.
April is Financial Literacy Month, but with schools closed because of the coronavirus pandemic and social distancing rules in place across the country, bankers are pivoting to video conferencing and virtual formats to deliver financial lessons.