WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) has released a request for information to inform its development of a national strategy for financial inclusion. Treasury was directed to develop a strategy to improve financial inclusion in the Joint Explanatory Statement accompanying the Financial Services and General Government Appropriations Act of 2023.
The Treasury Department initiated work on the strategy in 2023 and is seeking input from a wide variety of stakeholders to ensure that the strategy identifies clear and actionable opportunities for the public, private, and nonprofit sectors to advance financial inclusion and broaden access to financial products and services among underserved communities.
“Financial inclusion is a critical part of fostering financial security, expanding opportunities to build wealth, and closing the racial wealth gap. Too many individuals and families lack access to tools to support goals like homeownership and higher education, information that can help them plan for retirement or invest, and the ability to affordably make or receive payments,” said Assistant Secretary for Financial Institutions Graham Steele. “The financial inclusion strategy is an opportunity for Treasury to advance both a strategic vision for financial inclusion and a roadmap for future action.”
The Treasury Department is seeking information and recommendations from all interested parties for the purpose of advancing financial inclusion through policy, government programs, financial products and services, technology, and other tools and market infrastructure. Treasury is committed to including a broad range of perspectives to promote financial inclusion and is particularly interested in the views and needs of underserved communities.
Members of the public are encouraged to submit comments. Comments responding to this request for information will be publicly viewable on www.regulations.gov.