The Treasury's Office of Financial Education and Financial Access is requesting public input on the design, implementation and administration of financial education activities to expand access to financial institutions, including credit unions.
The Dodd-Frank Act authorized Treasury to establish a multi-year program of grants, cooperative agreements, financial agency agreements and similar undertakings to promote financial education and access initiatives. The recipients of such grants or cooperative agreements will develop and provide account products and services that are appropriate and accessible for low- and moderate-income individuals who are outside of the financial mainstream.
Treasury needs feedback on how to encourage low- and moderate-income individuals to open accounts and gain access to accounts with consumer protections. Furthermore, Treasury is also interested in what should be done to support innovative approaches to the delivery of financial education and counseling.
The Credit Union National Association has issued a comment call, which lists questions to consider. If your credit union would like to respond to any of Treasury’s questions, please direct your feedback to email@example.com by November 8, 2011.