Including Low-Income Americans in the Financial Mainstream

CAP, as a founding member of the Asset Building Policy Network, supports the efforts of the Treasury's Office of Financial Education and Financial Access to expand the use of mainstream financial products to millions of unbanked and underbanked consumers. Treasury's efforts to support numerous Bank On initiatives across the country merit particular mention because opening a bank account is a first and necessary step to building savings and stabilizing household finances. Those efforts, in a context of other policies to provide appropriate financial products, services, and education to low-income consumers, are critical to enabling millions of low-income American families to have the opportunity to enjoy upward economic mobility.

Read the Asset Building Policy Network's letter to Treasury (pdf)