The ABA Foundation invites entries for the tenth annual Community Commitment Awards, which recognize and promote extraordinary bank commitment to communities and the innovative, high-impact programs that improve the quality of life for customers and the communities banks serve.
A recent report issued by the Government Accountability Office found that some banking regulators lack “outcome-oriented measures” in assessments of their efforts to increase banking access to unbanked and underbanked consumers.
In 2021, 94.8% of low- and moderate-income households were nearby a branch offering a certified Bank On account—which feature low costs, minimum deposits, and no overdraft fees—up from 65.4% in 2015. Learn more about the progress of the Bank On movement at aba.com/BankOn.
As the FDIC chief prepared to resign before her term was up, she discussed the agency’s progress on innovation, financial inclusion and more.
The FDIC today expanded its public awareness campaign about the benefits of opening a bank account. The campaign now targets the Los Angeles, Dallas and Detroit metro areas, following last year’s campaign launch in the Atlanta and Houston areas.
McWilliams discusses several policy aspects of her tenure at the FDIC, including climate risk, small-dollar lending, CRA reform and the Mission-Driven Bank Fund.
The OCC identified principles for banks to implement what it calls “responsible overdraft programs that benefit financially vulnerable consumers,” while continuing to encourage banks to offer other options for short-term, small-dollar credit, Acting Comptroller of the Currency Michael Hsu said in a speech today.
The latest episode of the ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA’s 2021 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.
American Bankers Association President and CEO Rob Nichols today emphasized the importance of Bank On-certified accounts as a way to promote financial inclusion.
Banks are employing a number of successful strategies to help promote financial inclusion among individuals with criminal records, the American Bankers Association Foundation noted today in a new white paper.