By Julianne Stahl, The Council of State Governments<\/p>\n\n\n\n
Associates in Action articles highlight CSG Associates\u2019 philanthropic efforts and public-private partnerships throughout the states.<\/em><\/p>\n\n\n\n The American Bankers Association (ABA), a CSG Associate, is championing accessible financial products and services to advance the prosperity of the families and communities it supports. The ABA is the voice of the nation\u2019s $21.1 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $17 trillion in deposits and extend nearly $11 trillion in loans.<\/p>\n\n\n\n The ABA is urging all banks to join in on the financial inclusion initiative to consider offering Bank On-certified accounts that would expand access to banking services and reduce the number of unbanked and underbanked Americans. Created by the Cities for Financial Empowerment Fund, Bank On accounts\u2019 key features include low costs, no overdraft fees, robust transaction capabilities via a debit or prepaid card and free online bill pay.<\/p>\n\n\n\n While many banks may already offer accounts that meet the Bank On standards, they may not realize that they qualify for a Bank On certification. For those banks that do not currently offer accounts that meet every Bank On standard, the nation\u2019s core providers including Fiserv, FIS, Jack Henry, Finastra and 16 other core companies are committing to simplify the process for their bank customers to create and offer accounts that qualify for Bank On certification.<\/p>\n\n\n\n \u201cDespite a strong and intensely competitive financial services industry, we know that millions of Americans \u2013 and families of color in particular \u2013 remain outside the mainstream banking system and are missing the economic opportunities that come from having a bank account,\u201d said ABA President and CEO Rob Nichols. \u201cBy offering Bank On-certified accounts with the help of their core providers, America\u2019s banks can open doors of opportunity to new and returning customers, demonstrating the banking industry\u2019s commitment to financial inclusion.\u201d<\/p>\n\n\n\n The ABA is working closely with the CFE Fund, the core processors and other stakeholders to remove other obstacles limiting access to banking services in the country. To learn more about ABA\u2019s commitment to inclusive banking, visit https:\/\/www.aba.com\/banking-topics\/consumer-banking\/inclusive-banking\/bank-on<\/a>. To see how Bank On coalitions are connecting consumers to Bank On-certified accounts across the country, please visit: https:\/\/joinbankon.org\/coalitionmap\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" By Julianne Stahl, The Council of State Governments Associates in Action articles highlight CSG Associates\u2019 philanthropic efforts and public-private partnerships throughout the states. The American Bankers Association (ABA), a CSG Associate, is championing accessible financial products and services to advance the prosperity of the families and communities it supports. The ABA is the voice of… Read More »Associates in Action: American Bankers Association Leads Effort on Inclusive Bank On-Certified Accounts<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"off","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[58,26],"tags":[81,32,31],"class_list":["post-162","post","type-post","status-publish","format-standard","hentry","category-advancement","category-associates-in-action","tag-american-bankers-association","tag-associates-in-action","tag-csg-associates"],"_links":{"self":[{"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/posts\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/comments?post=162"}],"version-history":[{"count":0,"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/posts\/162\/revisions"}],"wp:attachment":[{"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/media?parent=162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/categories?post=162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web.csg.org\/tcs\/wp-json\/wp\/v2\/tags?post=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}