The CFE Fund and the Federal Reserve Bank of St. Louis partnered to create the Bank On National Data (BOND) Hub, which aggregates national Bank On account activity related to account openings, usage and consistency, and online access. 35 reporting financial institutions shared their 2022 data, which is highlighted in a recent report, The Bank […]
Category: News
Bank On National Conference Celebrates Movement Progress
Today at the 2023 Bank On National Conference, keynote addresses by Federal Deposit Insurance (FDIC) Corporation Chairman Martin J. Gruenberg and Office of the Comptroller of the Currency’s (OCC’s) Acting Comptroller Michael J. Hsu – two of the nation’s top federal banking regulatory agencies – highlighted Bank On movement progress. There are now over 375 […]
Newly Released: Spanish Language Version of the 2023-2024 Bank On National Account Standards
Working closely with our Bank On National Advisory Board and other key stakeholders, the CFE Fund released the English version of the Bank On National Account Standards. These standards provide local programs with a benchmark for account partnerships with financial institutions, and include both core and recommended features. The Standards were inspired by the 2012 […]
New Data: Bank On National Data Hub 2021 Report
The CFE Fund and the Federal Reserve Bank of St. Louis partnered to create the Bank On National Data (BOND) Hub, which aggregates national Bank On account activity related to account openings, usage and consistency, and online access. The latest BOND Hub report, The Bank On National Data Hub: Findings from 2021, provides an interactive […]
CFE Fund Submits Comment Letter on Community Development Financial Institution Revisions
The CFE Fund recently submitted a comment letter to the U.S. Department of Treasury on the proposed revisions to the Community Development Financial Institution (CDFI) certification application. The letter is specifically supportive of the inclusion of an expanded question evaluating a financial institution applicant’s checking or share account features and its use of Bank On […]
CFE Fund Submits Comment Letter on Community Reinvestment Act Reform
The CFE Fund recently submitted a comment letter to the Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) on their proposal to amend the regulations implementing the Community Reinvestment Act (CRA). Citing experiences from the Bank On movement, as well as the FEC Public initiative, the CFE Fund […]
CFE Fund Announces More Than 200 Bank On Certified Accounts
Just eight months after the 100th account was Bank On certified, the Cities for Financial Empowerment Fund (CFE Fund) announced there are now 200 bank and credit union accounts nationally certified as meeting the Bank On National Account Standards. Banks and credit unions offering certified accounts comprise over 56% of the U.S. deposit market share, […]
Just Released: Bank On National Data Hub 2020 Data
The CFE Fund and the Federal Reserve Bank of St. Louis partnered to create the Bank On National Data (BOND) Hub, which aggregates national Bank On account activity across three categories of metrics: Account Opening, Account Usage and Consistency, and Online Access. The latest BOND Hub report, The Bank On National Data Hub: Findings from 2020, […]
Thank You for Joining Us at the 2021 Bank On National Conference!
The CFE Fund’s Bank On National Conference was held virtually on November 15 and 16, 2021, and brought together almost 500 Bank On stakeholders including Bank On coalition leaders, financial institutions, regulatory agencies, local government officials, and other partners. The Conference was recorded, and all sessions can be viewed at our Bank On National Conference […]
CFE Fund Announces More Than 100 Bank On Certified Accounts
The CFE Fund announced that there are now more than 100 bank and credit union accounts nationally certified as meeting the Bank On National Account Standards. Banks and credit unions offering certified accounts comprise over 50% of the U.S. deposit market share, and 40% of all US bank branches offer a certified account; nearly two […]