The Federal Reserve, NCUA, FDIC, OCC, and the Financial Crimes Enforcement Network issued a joint statement encouraging federally insured financial institutions to offer youth savings programs. The agencies have not drafted new regulations but are offering guidance because of the weighty evidence suggesting early intervention leads to long-term financial stability. The agencies recognize that many FIs already engage in youth programs in collaboration with local schools.
Credit Union Network for Financial Literacy sees this joint statement as firm affirmation for our efforts. The Berenstain Bears Financial Literacy Program is aligned with National and Common Core Standards.
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