Reported 29 days ago
Treasury Secretary Janet Yellen has introduced an initiative aiming to increase bank account ownership among Americans, as part of a broader strategy to enhance financial inclusion. This plan, motivated by the need to create a more equitable economy, seeks to address the barriers faced by underserved communities, with a goal of providing better access to banking services, affordable credit, and financial education. Key measures include collaboration between federal and local governments to encourage account openings, improve credit access using alternative data, and enhance retirement savings opportunities.
Source: YAHOO