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U.S. Department of the Treasury Releases Banking on Opportunity: A Scan of the Evolving Field of Bank On Initiatives

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 Friday, November 4, 2011;  The Department of the Treasury released Banking on Opportunity: A Scan of the Evolving Field of Bank On Initiatives. This report provides background on the “Bank On” model, a recent approach to expand access to safe, affordable financial services and related financial education for unbanked households, through collaborations of financial institutions, financial educators, trusted community organizations, local and state government leaders, and others. The report provides an overview of the history of Bank On programs, and summary information about program structures, partnerships, funding, successes and challenges, special considerations and gaps in the field. The report also includes case studies from two established initiatives, in Savannah, Georgia, and Seattle-King County, Washington.

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