National strategy for financial inclusion released

The Treasury Department has announced the release of the National Strategy for Financial Inclusion in the United States, which identifies objectives and recommendations for policymakers, industry, employers, and community organizations to advance consumer access to safe financial products and services and strengthen financial security. The Strategy was requested in 2023 by Congress and has been informed by Treasury’s research and engagement with experts, community leaders, industry representatives, and other federal agencies, including public input through a Request for Information.

Objectives and key recommendations of the Strategy include:

Promote access to transaction accounts that meet consumer needs
Increase access to safe and affordable credit
Expand equitable access to savings and investments
Improve the inclusivity of financial products and services provided or backed by the government
Foster trust in the financial system by protecting consumers from illegal and predatory practices

Treasury invited all stakeholders to engage with this Strategy, to innovate, and to collaborate in creating a more inclusive financial landscape.