July/August 2021

Financial Literacy Update: July/August 2021

This publication is a part of:

Collection: Financial Literacy Updates

The Office of the Comptroller of the Currency (OCC)'s Financial Literacy Update is a bimonthly e-newsletter that reports upcoming events, new initiatives, and related resources of the OCC and other government agencies and organizations. The Financial Literacy Update provides brief descriptions for upcoming events in chronological order. New initiatives and resources are listed in alphabetical order. Visit www.occ.gov/flu for more information. We welcome your feedback.


COVID-19 

American Bankers Association

Association for Financial Counseling & Planning Education

Commodity Futures Trading Commission

Consumer Federation of America

Consumer Financial Protection Bureau

Federal Communications Commission

Federal Deposit Insurance Corporation

Financial Health Network

Foundation for Financial Planning

George Washington University Global Financial Literacy Excellence Center

Internal Revenue Service

National Community Reinvestment Coalition

National Credit Union Administration

National Disability Institute

National Foundation for Credit Counseling

National Housing Conference

NeighborWorks America

OCC’s HelpWithMyBank

Operation HOPE

U.S. Consumer Product Safety Commission

U.S. Department of Defense

U.S. Department of Education

U.S. General Services Administration

U.S. Securities and Exchange Commission

U.S. Small Business Administration

Events 

Keys to Financial Success Teacher Training
July–August 2021 (Online)

The Federal Reserve Bank of Philadelphia sponsors this professional development program acquainting high school educators with a personal finance curriculum.

Military Consumer Month
July 2021 (Nationwide)

The Federal Trade Commission, the U.S. Department of Defense, and the Consumer Financial Protection Bureau and their military consumer partners on the Military Consumer initiative share tips and resources with service members and their families to help them manage money, deal with debt, and avoid scams.

Virtual Teacher Workshops in Southeastern United States
July 2021 (Online)

The Federal Reserve Bank of Atlanta sponsors teacher workshops and events online and in Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee. These events cover financial capability and economics topics.

Virtual Teacher Workshops in Midwestern United States
July–November 2021 (Online)

The Federal Reserve Bank of St. Louis sponsors teacher workshops and events online in Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri, and Tennessee. These events cover financial capability and economics topics.

Association of Military Banks of America Fall Workshop
August 23−24, 2021 (Online)

This workshop supports the military community.

Annual Financial Literacy & Economic Education Conference
September 29−October 1, 2021 (Online)

The Council for Economic Education hosts this event for K 12 educators. Conference sessions and workshops provide tactics to help incorporate economics and financial literacy in classes.

HOPE Global Forums 2021 Annual Meeting
October 19−21, 2021 (Online)

Operation HOPE sponsors this global forum to inspire innovation and thought leadership toward an inclusive global economy. Meet with government, corporate, and community leaders from around the world for three days of discussions, networking, and turning ideas into action. This event will be held virtually.

Get Smart About Credit Day
October 21, 2021 (Nationwide)

The American Bankers Association (ABA) Community Engagement Foundation sponsors this event to provide bankers with tools and resources to go into classrooms, connect with youth groups, and visit colleges and high schools to help young people learn how to budget for college, use credit responsibly, build a positive payment history, and protect their identity. The program is open to all banks, including non-ABA members.

National Educator Conference
November 6−8, 2021 (Washington, D.C.)

The Jump$tart Coalition’s 12th annual conference offers tools, resources, and support for educators of pre-K–12 students.

2021 Annual Research and Training Symposium
November 15−19, 2021 (Virtual)

The AFCPE hosts this conference for personal finance professionals working in research, practice, and educational settings.

Initiatives 

2021–2022 Bank On Account Standards
The Cities for Financial Empowerment Fund has released its Bank On 2021–2022 national account standards. The standards outline the characteristics of safe and affordable banking accounts.

Community Navigator Notice of Funding Opportunity
The U.S. Small Business Administration sponsors this initiative for nonprofit organizations; state, local, and tribal governments; Small Business Administration partners; and other organizations that engage in targeted outreach to small businesses in underserved communities to help them get the resources and support they need to rebound as the economy recovers from the COVID-19 pandemic.

#GetBanked
As part of its effort to expand financial inclusion, the Federal Deposit Insurance Corporation launched this initiative to inform consumers about the benefits of opening bank accounts.

One Million Black Business and Entrepreneur Initiative
Operation HOPE created this initiative to increase the number of Black-owned businesses in America.

Pro Bono Planner Match
The Foundation for Financial Planning sponsors the planner match, which connects financial planners who want to help underserved people and nonprofit organizations that offer pro bono services.

Project REACh
The OCC’s Project REACh (Roundtable for Economic Access and Change) brings together leaders from the banking industry, national civil rights organizations, business, and technology to promote financial inclusion through greater access to credit and capital. The initiative seeks to reduce specific barriers that prevent full, equal, and fair participation in the nation’s economy.

#ResilientPwD Text Campaign
This National Disability Institute campaign delivers text messages to people with disabilities and chronic health conditions to help combat financial and emotional stress and feelings of isolation during the COVID-19 pandemic. Text RESILIENT to (833) 632-0273 to begin receiving text messages twice a week.

Resources 

Addressing the Challenge of Chronic Fraud Victimization
AARP, the FINRA Investor Education Foundation, and Heart+Mind Strategies released this study, which identifies evidenced-based ways to help repeat victims and their families counter financial fraud.

Building Blocks of Youth Financial Capability
The Consumer Financial Protection Bureau offers activities to teach financial literacy skills that are designed for use in a single class period for grade levels K-12 and can be integrated into a variety of subject areas

Considering a Financial Caregiver? Know Your Options
This is the latest edition of the Consumer Financial Protection Bureau’s “Managing Someone Else’s Money” series.

Consumer Financial Protection Bureau
These publications are free.

Consumer.gov
This Federal Trade Commission website provides resources about credit, debt, identity theft, and avoiding scams, as well as budgeting, opening a bank account, shopping for prepaid cards, and managing money in general. The website is available in Spanish at www.consumidor.gov.

Current Events Video Library From Next Gen Personal Finance
Next Gen Personal Finance publishes a weekly FinCap Friday. The site provides a video and a five-question quiz to generate interest and discussion about important financial concepts in the news.

Customer Advisory: Understand Risks and Markets Before Reacting to Internet Hype
This Commodity Futures Trading Commission advisory offers seven considerations before placing trades that involve commodity futures or physical commodities such as precious metals.

FDIC Deposit Insurance Education Materials
The Federal Deposit Insurance Corporation has made significant improvements to its deposit insurance education materials. The changes are designed to allow the public to quickly access basic information while still offering the traditional in-depth and comprehensive deposit insurance information.

Financial Aid Toolkit
The U.S. Department of Education provides tools and resources to help parents and students learn about financial aid.

Financial Caregiving: Planning for Stages of Cognitive Decline
This American Bankers Association Foundation guide helps banks educate older adults and their caregivers on preparing for the future. Banks can access the guide through the Safe Banking for Seniors campaign at aba.com/seniors.

FinHealth Spend Report 2021
The Financial Health Network released this report, which sheds light on how much households paid for everyday financial products and services in 2020.

IdentityTheft.gov
This Federal Trade Commission website helps people report and recover from identity theft. It is available in Spanish at Robodeidentidad.gov.

Investor.gov
Investor.gov is the U.S. Securities and Exchange Commission’s resource to help investors make informed decisions and avoid fraud. The website includes information on investing and investment products, a glossary of investment terms, alerts and bulletins on frauds and current investment topics, publications, and free financial tools and calculators. Investor.gov also offers a free and simple tool to check the background of an investment professional.

Keys to Financial Inclusion Podcast – Season Two
This National Disability Institute podcast series features thought leaders from federal agencies, universities, and national organizations who share their perspectives on the inclusion of people with disabilities in community development activities and Community Reinvestment Act activities.

Know Your Financial Advisor
This Consumer Financial Protection Bureau guide helps people ask the right questions and find a knowledgeable, trustworthy financial advisor.

Measuring the Financial Well-Being of Hispanics: 2018 Financial Well-Being Score Benchmarks
This Consumer Financial Protection Bureau report provides a set of benchmarks showing the financial well-being of Hispanic adults, as measured by the Consumer Financial Protection Bureau Financial Well-Being Scale.

MoneySkill
The American Financial Services Association Education Foundation offers this free, online personal finance curriculum. The curriculum has 37 modules focused on a variety of topics, including income, saving and investing, credit, and insurance. The curriculum is available in English and Spanish and is audio-equipped for English users.

MyCreditUnion.gov
The National Credit Union Administration’s official consumer protection website, MyCreditUnion.gov, offers educational information, resources, and articles designed to help people make smarter financial decisions and better choices with their money.

MyMoney.gov
This U.S. Department of the Treasury website provides financial education information and resources from across the federal government. The website highlights MyMoney Five (which provides links to resources and tools related to five principles for managing money), a research clearinghouse, games for youth focused on money, and a section on financial choices for major life events.

OCC Financial Literacy Resource Directory
The resource directory provides information on financial literacy resources, issues, and events of importance to bankers, organizations, and consumers of all ages. The resource directory includes descriptions of, and contact information for, government programs on financial literacy education and capability. It also includes organizations whose missions are to support financial literacy through campaigns, fact sheets, newsletters, conference materials, publications, and websites.

Personal Finance Resources for Bankers
The American Bankers Association Foundation offers resources and programs to help bankers keep personal finance in mind for the summer. Community organizations interested in hosting a banker-led presentation this summer can also place a request at aba.com/FinEdLink.

Planning for Peace of Mind: Social Security Advance Designation
The Consumer Financial Protection Bureau explains this new tool from the Social Security Administration that allows people to recommend a trusted person to manage their Social Security benefits if they become unable to do so.

Pulse Points
The Financial Health Network offers these timely updates on financial health. The spring brief looks at the effect of stimulus payments and tax refunds on consumer finances.

ReportFraud.ftc.gov
The Federal Trade Commission’s website is designed to make it easier for people to report fraud, scams, and bad business practices.

Safe Banking for Seniors
The American Bankers Association Foundation has released new modules on “Understanding Powers of Attorney” and “Choosing an Executor.” Bankers can access the free tool at www.aba.com/seniors, and consumer groups can request free presentations at aba.com/FinEdLink.

Stop Home Scams
NeighborWorks America offers this website designed to alert and empower people to protect their homes, get help from reputable sources, and report illegal activity to the proper authorities. En Español.

Training and Resources Library
The Foundation for Financial Planning offers a library of webinars to support nonprofit leaders and pro bono financial planners seeking to provide financial guidance to low- and moderate-income people.

Veteran’s Investor.gov
The U.S. Securities and Exchange Commission created this page to help veterans save money and avoid fraud.

You Have a Reverse Mortgage: Know Your Rights and Responsibilities
The Consumer Financial Protection Bureau released this guide for older homeowners. The guide provides easy-to-understand information for prospective and current reverse mortgage borrowers.