Consumer Financial Protection Bureau Announces Partnerships with Communities Across the Country to Promote Financial Resiliency

WASHINGTON, D.C. — The Consumer Financial Protection Bureau announced that it will partner with seven communities across the country to help build financial resiliency among Americans. The partnerships, part of the Bureau’s Start Small, Save Up initiative, aim to increase the number of people having sufficient liquid savings by testing new approaches as well as identifying existing approaches that can assist Americans to become more financially secure.

“The Bureau started Start Small, Save Up nearly two years ago to promote financial resiliency among Americans. If people don’t have enough to cover unexpected emergencies, it’s going to be harder for them to recover and achieve bigger financial goals,” said CFPB Director Kathleen L. Kraninger. “Today’s partnership will help us identify different approaches that can effectively promote financial resiliency in these communities.”

READ:  CFPB Initiates Review of Credit Card Company Penalty Policies Costing Consumers $12 Billion Each Year

The CFPB will provide training, technical assistance and other technical supports to help community-based organizations build or expand their financial resiliency initiatives. The communities selected are: Great Falls MT; Little Rock, AR; Louisville, KY; Manchester, NH; Richmond, VA; Seattle, WA; and St. Louis, MO. The seven communities were among a large number that were considered and represent a broad cross-section of the country’s population. Lead organizations in each community applied to the Bureau to participate in this partnership and after thorough consideration and due diligence these seven were selected.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.