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Project

Safe Banking Opportunities Project

Status:
Archived

Safe Banking Opportunities Project

Project Contact

Samantha Lasky Officer, Communications Tel: 202-540-6390
Email:

Banks, credit unions, policy makers, and consumer advocates have looked for ways to help households access safe financial products and services that will help them manage their money, pay their bills, develop solid credit ratings, and build assets. That market opportunity is ripe, and so, too, is the opportunity for the types of abusive practices and missteps that cost lower- and moderate-income working families precious resources.

The Safe Banking Opportunities Project provided research and technical assistance to help more than 50 cities and localities kick off “Bank On” programs that brought together banks, local governments, and community groups to promote responsible bank account ownership. The initiative also investigated the financial choices of 2,000 low-income households in Greater Los Angeles to identify the safe, affordable, fair, and empowering products that could bring more families into the financial mainstream.

Top Reason Poor Close Accounts

Top Reason Poor Close  Accounts Press Release

“Hidden or unexpected fees” were the number one reason Greater Los Angeles' working poor closed bank accounts, according to a survey by the Safe Banking Opportunities Project.

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The Business of Poverty

The Business of Poverty Media Coverage

On PBS' Bill Moyers Journal, Safe Banking Opportunities project director Matt Fellowes spoke about financial products and services utilized by lower-income consumers.

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