Boosting Financial Access: Solutions for Unbanked and Underserved Consumers.
This bill directs the Office of Community Affairs to lead research into why individuals and households do not maintain sustainable relationships with depository institutions. It requires the Office to coordinate with other federal agencies, identify barriers, and develop strategies to increase financial education and participation for un-banked and under-banked consumers.
Key points
Mandates the Office of Community Affairs to lead research into the causes preventing individuals from maintaining bank relationships.
Requires the development of strategies to increase financial education for unbanked and underserved consumers.
The Office must report to Congress every two years with recommendations to remove regulatory and structural barriers to banking access.
Status:
Expired
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