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News Release 2023-74 | July 18, 2023

Office of the Comptroller of the Currency Promotes Financial Literacy at Capitol Hill Event

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today promoted financial literacy education by participating in the annual Jump$tart Coalition Financial Literacy Day on Capitol Hill.

At the event, OCC staff distributed materials to attendees including members of Congress, their staff, the Capitol Hill community, and the public to promote financial literacy education and inclusion activities and to inform consumers about the role banks can play in financial education. The OCC also highlighted the agency's website, which provides links to financial information and answers to hundreds of questions on various topics, including bank accounts, credit cards, consumer loans, mortgages, insurance, and more.

"Financial Literacy Day on Capitol Hill is an important convening event to draw attention to the significance of financial education, and I applaud the Jump$tart Coalition and National Endowment for Financial Education for their leadership in this area," said Acting Comptroller Michael J. Hsu. "Enhancing financial literacy empowers consumers to participate in the financial services sector in ways that promote their own financial health. I am proud of the OCC's comprehensive efforts to promote financial literacy and financial health, including through the agency's Project REACh activities, High School Scholars Internship Program (HSSIP), and Financial Health: Vital Signs discussion series."

Financial literacy is a key component in the OCC's goal to reduce inequality and elevate fairness in the federal banking system. The OCC's Project REACh, or Roundtable for Economic Access and Change, convenes leaders from the banking industry, national civil rights organizations, business, and technology to increase access to credit and capital and expand financial inclusion. The OCC's HSSIP is in its fifth year of providing paid summer internships to students from targeted Washington, D.C., high schools. In 2022, Acting Comptroller Hsu launched the Financial Health: Vital Signs discussion series with academic, community and industry leaders to explore issues relating to the financial wellbeing of consumers, such as minority ownership of cryptocurrency and the importance of building assets for financial health.

The OCC is a member agency of the Financial Literacy and Education Commission (FLEC), a federal commission dedicated to financial literacy education. FLEC's website provides resources from the OCC and the other 23 member agencies to help strengthen financial capability and increase access to financial services for all Americans.

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