Financial Education, Innovation, and Wealth Creation Strategy
Building a Pathway for Wealth and Financial Security for all People Across America
Every day, more than 50 million people in America live in a financial crisis or are on the brink. Financial instability has gone mainstream, threatening our economy. It is time to make financial security for everyone in America a national priority and ensure people in America everywhere have the financial services resources to be financially secure. We are working for a strong economy with reduced wealth inequality, expanded opportunity, and shared prosperity. This transformational change requires innovation, trust, leadership, and entrepreneurial thinking. Our coalition galvanizes a diverse set of leaders across the public, private, and nonprofit sectors to solve one of our most critical financial challenges.
Facts
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Every person in America deserves the resources they need to not only be financially stable, but to thrive in our economy. Currently, we are far from that goal.
Here are the facts:
- Low- and moderate-income families lost two decades of wealth following the 2008 Great Recession
- Many Americans lack a bank account or are forced to use payday lenders or other non- traditional services that cost more out-of-pocket
- Wages and living standards have stagnated
- The median wealth of black households is one-tenth that of whites’
- Women’s wealth is one-third that of men’s
- College debt has reached record highs
- Too many Americans have no retirement savings or pensions
- Nearly half of all adults could not pay an unexpected $400 expense
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Signatories
Signatories
The below organizations have joined our efforts to create a national financial inclusion strategy.
Accion Opportunity Fund
AIR – the Alliance for Innovative Regulation
American Fintech Council
Andav Capital
Aspen Institute
Astia
Bank Policy Institute
Bear North LLC
Black Economic Alliance
BlueVine Inc.
BMO Financial Group
Capital One
Center for Social Development, Washington University at St. Louis
Chainalysis
Change Machine
Chime
Citi
Code for America
Cohen Strategy Group
Common Future
Commonwealth
Community Development Bankers Association
Conduent
Consequential Capital
Consumer Data Industry Association
Credit Union National Association
Cross River Bank
DailyPay
Daylight
Defined Contribution Institutional Investment Association (DCIIA)
Dignity + Debt Network
Dragonfly Financial Solutions
EarnIn
Electronic Transactions Association
Emerging Technology Consortium
Equifax
EverSafe
FDATA
Financial Health Network
Finclusive
FlexJobs
FlexWage Solutions
FRSH
Gardner Capital Group
Greenpath Financial Wellness
Grounded Technologies
Gusto
H&R Block
Her Suite Spot
Hope Credit Union
ideas42
Inclusiv
Income Movement
Independent Community Bankers of America
Intuit
iPayed
Joliet Latino Economic Development Association
Kiva
Lawrence Community Works
Lively
Local Initiatives Support Corporation (LISC)
Making Hope Happen Foundation
Mastercard
Mission Asset Fund (MAF)
MoCaFi
Morningstar, Inc.
MX
MyPath
NAFOA
National Association for Latino Community Asset Builders (NALCAB)
National Bankers Association
National Black Bank Foundation
National Credit Union Foundation
National Endowment for Financial Education
National Juneteenth Foundation
National Neighborworks Association
Nav.it Inc.
Neighborhood Trust Financial Partners
Nutmeg State Financial Credit Union
OneBlinc
Oportun
Opportunity Finance Network
OurBanc
PayActiv
PayPal
Petal
Plaid
PolicyLink
Prism Data
Propel
Prosperas
Prosperity Now
Prosperity Works
Prudential
Sage Financial Solutions
San Francisco Black & Jewish Unity Coalition
Saverlife
Shur
SpeakNow Inc.
SpringFour
Steady
Sunny Day Fund
The Blockchain Foundation
The Securities and Financial Markets Association (SIFMA)
TransUnion
Treasurer’s Office, State of Illinois
Treasurer’s Office, State of Maine
Unconventional Ventures
UnidosUS
United Way of Massachusetts Bay
Urban League
VantageScore
Varo Bank
Visa
Wells Fargo
Wise