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Fourth Quarter 2024

Financial Literacy Update: Fourth Quarter 2024

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Collection: Financial Literacy Updates

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The Office of the Comptroller of the Currency's (OCC) Financial Literacy Update is a quarterly e-newsletter that lists events, initiatives, and other resources offered by the OCC and other government agencies and organizations.


Spotlight 

OCC's Financial Health Vital Signs Initiative: Using Data to Help Improve Customer Outcomes

In June 2024, the OCC released a new Community Development Insights report, "How Banks Can Measure and Support Customer Financial Health Outcomes." The report shares the OCC's current perspective on financial health, identifies financial health measures, and offers examples of use cases that highlight potential actions banks may voluntarily take to assess customers' financial health.

The OCC encourages national banks and federal savings associations to support consumers' financial health, defined as a state when an individual or household has the following:

  • Stability: The ability to use financial products and services to easily and affordably meet regular financial obligations, including the ability to pay on time and in full for housing, utilities, transportation, healthcare, childcare, food, and other necessities.
  • Resilience: The ability to withstand financial shocks. Resilience includes being able to cover emergency expenses and make ends meet even with a loss of income or unexpected expenses or events. It also includes having assets or insurance adequate to recover from a significant shock.
  • Security: The ability to feel secure about long-term financial resources including having assets for the future and positive net worth. Such assets may include long-term (e.g., retirement) assets and/or insurance adequate to meet long-term needs. Additionally, security is generally connected to having financial goals and a personal financial plan.

The OCC has identified three Financial Health Vital Signs that banks may consider using to assess customers' financial health based on transaction and administrative data:

  • Positive cash flow can demonstrate a customer's ability to meet routine expenses from regular income and build financial resilience and security. Positive cash flow is defined as inflows greater than outflows.
  • Liquidity buffer is meant to capture the customer's ability to be financially resilient in the case of an unexpected expense or a drop in income. Liquidity buffer is defined as funds available in liquid accounts and credit available.
  • On-time payments may indicate the customer is able to meet debt obligations and avoid risks of delinquency and over-indebtedness. On time payments are defined as no debts owed over 30 days past due, or alternatively, a prime or near prime credit score.

Banks have focused attention on developing products and services that may help customers improve their financial health. In addressing customer financial health, several banks have partnered with nonprofit organizations serving communities likely to be facing financial health challenges to provide financial education, financial counseling, and coaching, which can help provide tailored information and guidance to customers in addressing their financial health. The following non-exhaustive set of illustrative examples includes both existing practices and potential applications.

Potential Products and Services for Customers Without Positive Cash Flow

  • Offer low- or no-cost transaction accounts such as Bank On-certified accounts.
  • Offer money management applications, and online tools that, for example, provide alerts about duplicate charges, remind customers about upcoming bills and other recurring charges, and show customers their spending trends.

Potential Products and Services for Customers With Low Liquidity Buffer

  • Offer low- or no-cost savings accounts linked to primary transaction accounts; offer accounts with automatic savings features that enable regular savings from payroll deposits; and enable customers to transfer small amounts from their transaction account into savings with each debit card purchase.
  • Provide savings and goal-setting tools, such as tools that enable customers to set goals and track their savings progress and those that show customers funds that can be moved from checking to savings.

Potential Products and Services for Customers With Difficulty Paying Debt or Having Subprime Credit Scores (these may also help with a liquidity buffer)

  • Offer secured credit products to build or repair credit scores.
  • Underwrite loans based on transaction account history.
  • Provide tools to help customers monitor their credit scores and credit reports and provide information on how to improve credit scores.

The Vital Signs are designed to support efforts by banks to understand their customers' financial challenges, to improve product and service offerings, and empower customers to improve their financial health. The Vital Signs and suggested benchmarks set forth information banks may voluntarily integrate into their assessment of current or planned products and services and customer relationships. The OCC is not requiring bank consideration of the Vital Signs nor integrating them into supervisory guidance. The Vital Signs are intended as a starting point for efforts by interested banks to assess and support customers in improving their financial health, namely, to improve stability, resilience, and security. For more information about the Financial Health Vital Signs, contact communityaffairs@occ.treas.gov.

Events 

NeighborWorks Fall Learning Series
NeighborWorks America
October 1-November 30, Virtual
NeighborWorks will offer an array of webinars and multiday faculty-led courses related to financial capability and coaching, housing counseling, and more. New sessions will focus on resource development and other in-demand topics. Registration for all these courses opened in late August.

16th Annual Financial Literacy Leadership Conference
Society for Financial Education and Professional Development
October 3–4, National Harbor, Md.
This annual conference is for financial educators; federal and state policymakers; researchers; representatives of nonprofits, colleges, and universities; students; and consumers to advocate for and enhance the financial literacy of people of all ages and backgrounds. Tracks are available for both students and professionals.

Shaping the Future Together: Empowering the Hispanic Community Through Financial Literacy
Federal Deposit Insurance Corporation
October 3 (English) & October 10 (Spanish), Virtual
The Federal Deposit Insurance Corporation (FDIC) will host two webinars to celebrate Hispanic Heritage Month. The events will feature an overview of the FDIC's Financial Education Programs as well as tools and resources for the Hispanic community. Panelists will present on "How to Find Funding" and "Grants for Your Financial Education Program," and you will hear inspiring success stories from Juntos FDIC (Together FDIC), a financial capability and economic empowerment pilot directed to Hispanic Serving Organizations.

ACP 2024, Annual Conference for Fiduciary Advisors
Alliance of Comprehensive Planners (ACP)
October 8–11, Savannah, Ga.
This conference supports the mission of the ACP to provide a community for fiduciary advisors to share knowledge, build financial planning practices, and grow client wealth. The conference provides skills education, networking opportunities, and motivational presenters to help members improve their practices.

Credit as an Asset Training
Credit Builders Alliance
October 9-November 6, Virtual
These are virtual, instructor-led trainings to enhance your credit building knowledge with either "Credit as an Asset," "Credit as an Asset: Small Business," or both. Visit the Credit as an Asset training page for more information and how to register.

Women in Insurance and Financial Services (WIFS) National Conference
WIFS Association
October 14-16, Philadelphia
This conference is for women in financial planning, financial services, and insurance. Attendees will hear from presenters on how to improve "Financial Sales Techniques," "How to Support the Next Generation of Women Leaders in Financial Services," and "How to Become a Leader in Financial Services by Overcoming the Imposter Complex."

61st Annual NAEPC Advanced Estate Planning Strategies Conference & Council Leadership Conference
National Association of Estate Planners & Councils
October 20-24, Anaheim, Calif.
This conference is for all estate planning professionals. Presentation topics include a federal tax update, patient safety concerns with living wills and advance directives, and family business succession planning.

National Association of Active Investment Managers Conference
National Association of Active Investment Managers
October 28-29, Dallas
This conference tackles current issues for active investment managers. Presentation topics will include market catalysts, trading strategies, compliance, marketing, and more. The format fosters peer-to-peer exchanges and collaboration to address challenges and promotes the success and growth of attendee firms.

NAPFA Fall 2024 National Conference
National Association of Personal Finance Advisors (NAPFA)
October 30–November 2, Nashville, Tenn.
This conference is for the fee-only, financial advisor community. Presentations include "Becoming the Preeminent Financial Influencer in Your Clients' Lives," "Nurturing the Million-Dollar Mindset Without Compromising Faith and Family Values," and "5 Steps to Building a 7-Figure Financial Advisory Business that Impacts the World."

Jump$tart National Educator Conference 2024
Jump$tart Coalition for Personal Financial Literacy
November 2–4, Louisville, Ky.
This national conference is for K-12 teachers and other stakeholders interested in learning new and innovative ways to teach financial education to youth.

Small Business Convening for People With Disabilities
National Disability Institute
November 20–21, 2024
National Disability Institute (NDI) invites you to its Third Annual Disability Owned Convening. This national virtual event will bring together entrepreneurs and small business owners with disabilities, entrepreneurial support organizations, policy makers, financial institutions, and disability advocates from across the country.

AFCPE 2024 Symposium
Association for Financial Counseling and Planning Education
November 20–22, Columbus, Ohio
This symposium has panels, speakers, and keynotes covering financial education, research, and practice for financial counselors, educators, and other financial literacy stakeholders and will include an exhibit hall.

Hope Global Forum (2024 Annual Meeting)
Operation Hope
December 9–11, Atlanta
Hope Global Forum is an annual meeting to engage in dialogue with passionate leaders, to reimagine the global economy so the benefits and opportunities of free enterprise are extended to everyone.

NeighborWorks Training Institute
NeighborWorks America
February 10–14, 2025, Philadelphia
This conference will include in-person courses for all levels of experience (many new or updated), plus peer learning and networking activities. Earn certificates and advance your career while you gain strategies and tools that help you maximize your impact. Registration opens in late October.

Initiatives and Resources 

ABA Check Fraud Claim Directory
American Bankers Association
This directory provides contact information for banks needing to file a check warranty breach claim with another financial institution. The directory is searchable by bank name, city, state, or FDIC number so banks can easily find a person or email address at the bank to help resolve a warranty breach claim.

American Savings Education Council
Bipartisan Policy Center
This organization comprises more than 100 partner organizations and has recently been relaunched. The organization convenes stakeholders and facilitates open dialogue to advance key issues surrounding financial literacy and well-being.

Consumer News
Federal Deposit Insurance Corporation
FDIC Consumer News is the FDIC's monthly newsletter to consumers, providing practical guidance on how to become a smarter, safer user of financial services, including helpful hints, quick tips, and common-sense strategies to protect and stretch your dollars. You can also subscribe to FDIC Consumer News by texting your email address to 468311.

Customer Advisory: AI Won't Turn Trading Bots into Money Machines
Commodity Futures Trading Commission
This customer advisory explains how customers can assess risks of artificial intelligence (AI) trading strategies that promise high returns.

Customer Advisory: Six Warning Signs of Online Financial Romance Frauds
Commodity Futures Trading Commission
This customer advisory provides information on warning signs of text and online frauds.

Deposit Insurance Education Materials
Federal Deposit Insurance Corporation
These materials provide quick access to basic information and comprehensive deposit insurance information.

Diversity, Equity, and Inclusion Essentials
Association for Financial Counseling & Planning Education
This self-paced online course is designed to give financial professionals tools and resources to better serve clients from all backgrounds.

Econ Lowdown
Federal Reserve Bank of St. Louis
This resource for teachers and students provides classroom management tools, online modules, articles, videos, and podcasts for teaching economics and personal finance.

Elder Fraud Prevention and Response Networks Development Guide
Consumer Financial Protection Bureau
This guide helps community organizations start or revitalize elder fraud prevention and response networks to protect older adults from financial exploitation.

FAFSA Financial Aid Toolkit
U.S. Department of Education Office of Federal Student Aid
This resource provides an overview of the Free Application for Federal Student Aid (FAFSA) Simplification Act with fact sheets, videos, and infographics for career and college access professionals. Outreach videos are available at FSAOutreach on YouTube.

FAFSA Information, Guidance, and Training
U.S. Department of Education Office of Federal Student Aid
The Office of Federal Student Aid shares regular FAFSA updates, which includes all information, guidance, and training related to implementation of the FAFSA Simplification Act and the FUTURE Act.

FDIC Money Smart Training and Events
Federal Deposit Insurance Corporation
This site includes information on Money Smart Training and Events including summary and registration for Train-the-Trainer and Small Business events.

Federal Student Loan Borrowers
U.S. Department of Education Office of Federal Student Aid
This resource provides information for federal student loan borrowers, including information on income-driven repayment plans, including the recently initiated Saving on a Valuable Education Plan. The site also has resources to communicate with students, parents, and borrowers about managing their loans and navigating the return to repayment.

Fighting Back Against Elder Financial Exploitation
American Bankers Association Foundation and Federal Bureau of Investigation
This brief guide provides information for banks to protect their customers from financial exploitation, including theft and scams. The guide includes red flags for elder financial exploitation and actions that banks can take to recognize, report, and respond to exploitation.

Financial Abuse Literacy Resource
Annuity.org
This site lists warning signs of financial abuse, explains how to tell whether someone is being financially abused, and provides resources.

Financial Capability
Office of the Comptroller of the Currency
This updated Community Developments Fact Sheet explains how financial capability programs can help people make informed decisions and actions.

Financial Capability of United States Military Veterans: The Role of Gender and Racial/Ethnic Identity (PDF)
Financial Industry Regulatory Authority Investor Education Foundation
This research brief examines how veterans' financial capability differs by gender and racial/ethnic identity. It finds female veterans report worse outcomes than male veterans and veterans of color report worse outcomes than their white counterparts.

Financial Coaching for American Indians and Alaska Natives
Oklahoma Native Assets Coalition
This organization provides free financial coaching to any American Indian and Alaska Native anywhere in the United States. Coaching is available by phone and teleconference. Coaching includes one-on-one credit counseling, home buyer education, and basic budgeting.

Financial Crime Rapid Response Program
Financial Crimes Enforcement Network
This program helps victims, and their financial institutions recover funds stolen as the result of certain cyber-enabled financial crime schemes. The program has assisted in the recovery of over $1.1 billion since its inception in 2015.

Financial Education Exchange
Consumer Financial Protection Bureau
This resource provides a place for financial educators, practitioners, counselors, researchers, and others to share information and best practices and to learn and gain access to free monthly webinars, conferences, financial education resources, and more.

Financial Empowerment Center Academy
Cities for Financial Empowerment (CFE) Fund
This program informs local governments about bringing the Financial Empowerment Center model of integrated, professional, one-on-one financial counseling as a free public service to their communities. The academy supports cities and counties through planning, and includes significant CFE Fund technical assistance, access to planning resources and information, and participation in a robust learning community. Partners are also eligible to receive a $20,000 planning grant.

Financial Inclusion Essentials Online Training
National Disability Institute and Association for Financial Counseling & Planning Education
This self-paced, online course is designed for financial counselors, financial coaches, disability service providers, and others who want to learn more about building the financial well-being of people with disabilities and their families. The course includes practical, actionable tools, examples, and resources.

Financial Literacy Resource Directory
Office of the Comptroller of the Currency
This resource directory provides information on financial literacy resources, issues, and events of importance to bankers, organizations, and consumers. It describes government programs and organizations whose missions are to support financial literacy through campaigns, fact sheets, newsletters, conference materials, publications, and websites.

Financial Readiness eNewsletters
U.S. Department of Defense
Your Military Money helps service members, and their families achieve personal financial readiness in support of mission readiness; MilSpouse Money Mission educates and empowers military spouses; and Military Financial Service Provider helps financial services providers deliver financial education to service members and their families. The newsletters are published monthly.

Financial Wellness Online Courses
National Disability Institute
These online courses expand knowledge of financial wellness strategies to help people with disabilities build better financial futures. The self-paced courses cover topics such as debunking myths and stereotypes, negotiating favorable tax credits and services, and how Social Security disability benefits affect the financial decisions of people with disabilities.

Free Native American Financial Coaching Across the U.S.
Oklahoma Native Assets Coalition
The Oklahoma Native Assets Coalition offers free financial coaching (by phone and teleconference) to American Indians and Alaska Natives, regardless of where they reside in the United States.

Glossaries of Translated Financial Terms in Eight Languages
Consumer Financial Protection Bureau
These new and updated glossaries of financial words and terms are available in eight languages: Arabic, Chinese, Haitian Creole, Korean, Russian, Spanish, Tagalog, and Vietnamese. The glossaries were created to serve as a translation tool for content creation that serves limited English-proficient communities as they navigate the financial marketplace.

Glossary of Financial Terms for Youth
Consumer Financial Protection Bureau
This glossary contains terms useful when teaching youth financial literacy. The terms are used throughout related classroom activities and can help students better understand financial literacy concepts.

Guide for Older Investors
U.S. Securities and Exchange Commission
This investor education brochure reminds older Americans to never stop learning, especially when it comes to protecting their money. It includes sections on investing basics, adding a trusted contact, researching investments and investment professionals, spotting and avoiding fraud, and more.

Guide to Organizing Reality Fairs (PDF)
Federal Deposit Insurance Corporation
This guide is a comprehensive resource for planning, organizing, and supporting a successful three-hour reality fair. Reality fairs allow students to experience what it is like to have a bank account, decide how to use their money, obtain a loan, manage debt, and more.

HelpWithMyBank.gov
Office of the Comptroller of the Currency
Get answers to your banking questions by visiting HelpWithMyBank.gov. This webpage provides information and assistance for customers of national banks and federal savings associations. You can type in a request using the search box or browse frequently asked questions by topics. If neither of these methods provide you the answer you need, you can email a question or call the 800 number posted on the webpage.

Help With Your Housing Journey
Fannie Mae
On this website, renters, home buyers, and homeowners can find tools, including calculators, checklists, and resources for what to do after a disaster. HomeView Homebuyer Education is a comprehensive course for first-time home buyers available in English and Spanish. Fannie Mae also has a Black and Latino Homeowning Journey webpage that identifies distinct obstacles that Black and Latino consumers may encounter when they purchase a home. It also provides information on solutions that Fannie Mae is creating to address these barriers.

Homeownership 101
3 by 30
This website is targeted at first-time home buyers and those who are the first in their families to own a home. It provides detailed step-by-step guidance on how to purchase a home and includes a mortgage calculator to calculate monthly payments based on the cost of a home, the down payment, the interest rate, and cost of insurance and homeowners association dues.

Home Ownership Guide for People with Disabilities and Home Inheritance Guide for People with Disabilities
ABLE National Resource Center

The ABLE National Resource Center (ABLE NRC), managed by National Disability Institute (NDI), created two new guides: Home Ownership Guide for People with Disabilities and Home Inheritance Guide for People with Disabilities. ABLE accounts, which allow individuals with disabilities to save money without affecting their eligibility for public benefits, can be used to cover various housing-related expenses.

How Banks Can Measure and Support Customer Financial Health Outcomes
Office of the Comptroller of the Currency
The OCC encourages national banks and federal savings associations to support consumers' financial health in a safe, sound, and fair manner. This report identifies a way to consider consumer financial health, proposes and encourages the use of financial health measures, and provides examples of financial health measure use cases and actions that may contribute to improved customer financial health. It is intended to contribute to broader efforts to measure financial health as a means of supporting improved financial health outcomes.

How to Develop a Financial Education Program at Your Credit Union (PDF)
National Credit Union Administration
This brochure provides tips for starting or enhancing financial education programs at credit unions.

How to Organize Your Important Papers Before a Disaster Strikes
Federal Trade Commission
This article provides guidance on how to organize personal and financial documents that may be needed in case of a disaster. The article is also available in Spanish.

HoweyTrade Fictional Investment Videos
U.S. Securities and Exchange Commission
These videos and companion teacher's guides show student investors what real scams can look like and teach them how to spot the red flags of fraud and avoid getting scammed.

Infographics on the Effectiveness of Financial Education
National Endowment for Financial Education
These shareable documents summarize research findings on the effectiveness of financial education programs on financial knowledge and behaviors, including in elementary, secondary, and higher education.

Investor Education Webinars and Teacher Consultation Meetings
Securities Industry and Financial Markets Association Foundation
These free webinars are available all school year and include topics like investment research, introduction to stocks, diversification, and more. The foundation also offers consultation meetings or "office hours" for educators interested in learning more about the foundation's financial education programs and how to incorporate them into their classrooms.

Introduction to the U.S. Consumer Financial Protection Bureau (CFPB) in Seven Languages
Consumer Financial Protection Bureau
CFPB's Office of Financial Education posted the video, "The CFPB Is on Your Side," on consumer-facing pages. The video gives a basic description of the CFPB in 10 languages: English, Spanish, Arabic, Chinese, Haitian Creole, Korean, Russian, Tagalog, Vietnamese, and American Sign Language.

Invest It Forward
Securities Industry and Financial Markets Association Foundation
This program provides financial education volunteering opportunities to help youth learn about capital markets.

Investor Alert: Artificial Intelligence (AI) and Investment Fraud
U.S. Securities and Exchange Commission
The Securities and Exchange Commission Office of Investor Education and Advocacy, the North American Securities Administrators Association, and the Financial Industry Regulatory Authority jointly issued this Investor Alert to make investors aware of the increase of investment frauds involving the purported use of artificial intelligence (AI) and other emerging technologies. Individual investors should know that bad actors are using the growing popularity and complexity of AI to lure victims into scams.

Investor Alert for Seniors: Five Red Flags of Investment Fraud
U.S. Securities and Exchange Commission
This Investor Alert highlights signs of possible investment fraud aimed at older investors to help law enforcement professionals and others identify whether an older investor has been a victim of investment fraud and to help explain how to report fraud to appropriate authorities.

Investor Alert: Pre-IPO Investment Scams Investor Alert
U.S. Securities and Exchange Commission
This alert warns investors about investment scams that purport to offer investors the opportunity to buy "pre-IPO" shares of companies. Investing at the pre-IPO stage can involve significant risk for investors, including the risk that you could lose your entire investment.

Investor Alert: Retirement Accounts
U.S. Securities and Exchange Commission
These alerts address topics that include Protect Your Thrift Savings Plan (TSP) Account From Fraud and Self-Directed IRAs and the Risk of Fraud.

Investor Bulletin: An Introduction to ABLE Accounts
U.S. Securities and Exchange Commission
This updated Investor Bulletin provides information on the Achieving a Better Life Experience (ABLE) account, which is a tax-advantaged method to save for qualified disability expenses. The bulletin explains who can open an ABLE account, who can be a beneficiary of an ABLE account, and important tax law changes.

Investor.gov
U.S. Securities and Exchange Commission
Includes information on investing and investment products, a glossary of investment terms, Investor Alerts and Bulletins on fraud and on current investment topics, investor education publications and quizzes, and free financial tools and calculators.

Lump Sum Payouts: 8 Steps to Take to Make the Most of Your Money
U.S. Securities and Exchange Commission
This Investor.gov resource provides information on steps to get the most out of any lump sum payments, including protecting yourself from fraud.

Managing Your Finances During Recovery: Financial Help for Recovering Addicts
Annuity.org
This webpage provides information to address the financial stresses of people in addiction recovery, including tips for individuals and financial literacy programs.

Money Basics Guide to Budgeting and Savings (PDF)
National Credit Union Administration
Financial educators can use this guide to teach people about financial basics, including budgeting and savings.

Money Management Essentials Course
Association for Financial Counseling & Planning Education
This self-paced, online professional development course covers foundational money management steps. New activities, including interactive virtual counseling scenarios, have been added.

Money Matters: How to Spot, Avoid, and Report Scams
Federal Trade Commission
This website features articles, videos, social media shareables, and sample presentations that focus on eight primary areas: Credit Reports, Buying or Renting a Home, Avoiding a Scam When Looking for a Job, Borrowing and Debt, Education and Training, Your Rights When Shopping, Buying and Owning a Car, and Prizes and Grants. The website is available in Spanish.

MoneySKILL
American Financial Services Association Education Foundation
This free, online personal finance curriculum offers courses in English and Spanish that are designed for middle and high school students and other audiences. Instructors have access to student progress, gradebooks, and hundreds of free digital personal finance activities to supplement each module. The infographic (PDF) and full report (PDF) describe the latest results on student financial behaviors and knowledge gained since 2021.

Money Smart Alliance
Federal Deposit Insurance Corporation (FDIC)
The Money Smart Alliance is a network of organizations that use the Money Smart Curriculum. Any organization that needs financial literacy training materials can use the Money Smart Curriculum. Instructions for joining the Alliance and accessing the financial literacy are on the website.

My Home
Freddie Mac
This website includes links to calculators and housing counselors to help with housing-related questions. Additionally, the CreditSmart website provides education and tools on money and credit basics, as well as topics for renters, home buyers, and homeowners.

MyMoney.gov
Financial Literacy and Education Commission
This website provides financial education information and resources from across the federal government. The website highlights the MyMoney Five and a section on financial choices for major life events. Recent additions include pages on climate change resources, justice impacted individuals, crypto-assets, and tribal and native resources.

NeighborWorks Center for Homeownership Education and Counseling
NeighborWorks America
The center offers certifications for homeownership and community development practitioners that align with the National Industry Standards for Homeownership Education and Counseling. Financial capability certifications are designed for financial coaches and financial and housing counselors.

Teach Children to Save Program
ABA Foundation
The Teach Children to Save program rolled out redesigned lesson plans for grades K-2, new interactive activities for each grade band (K-2, 3-5, 6-8), and an improved Teach Children to Save Banker resource page. To participate in Teach Children to Save, banks can sign up at aba.com/fined.

Never Stop Learning
U.S. Securities and Exchange Commission
This public service campaign highlights the importance life-long financial learning for those who invest emphasizing the need of investors to monitor their investment accounts, conduct background checks on investment professionals, and avoid unsolicited investment pitches that could be scams.

Next Gen Personal Finance for Middle, High Schoolers
Next Gen Personal Finance
This website offers free curriculum and resources for teaching financial education in middle and high school. Resources include a bank simulator for students to practice navigating an online bank account.

Program for International Student Assessment (PISA) 2022 Financial Literacy Assessment Results
U.S. Department of Education's National Center for Education Statistics
This assessment measures 15-year-olds' knowledge and understanding of fundamental elements of the financial world—including financial concepts, products, and risks—and the skills and attitudes to apply what they know to real-life situations involving financial issues and decisions. The 2022 PISA Financial Literacy Assessment results were released on June 27, 2024. PISA is developed and organized by the Organization for Economic Cooperation and Development (OECD) and is conducted in the United States by the National Center for Education Statistics (NCES). The OECD report, including additional findings from the student background questionnaire.

Planning for Retirement
U.S. Department of Labor
This website provides publications and tools to plan for retirement. Many publications are now available in English, Spanish, Arabic, Simplified Chinese, Traditional Chinese, French, Haitian Creole, Korean, Polish, Portuguese, Russian, Tagalog, and Vietnamese.

Prevent Elder Financial Exploitation with Alerts to Trusted Contacts and Preventing and Reporting Elder Financial Exploitation
Consumer Financial Protection Bureau
The first resource helps to prevent financial exploitation, this guide explains voluntary practices to financial institutions for providing alerts to trusted contacts for older adults. The second resource provides contact information for help in responding to and reporting elder financial abuse.

Pro Bono Planner Match
Foundation for Financial Planning
The Foundation for Financial Planning's ProBonoPlannerMatch.Org connects nonprofits with certified financial planner professionals who want to provide free financial guidance and advice to underserved populations. Nonprofit organizations can register and post volunteer opportunities on the site. The site also has real-life examples of how pro bono financial planning has affected individuals and families.

Project REACh
Office of the Comptroller of the Currency
Project REACh (Roundtable for Economic Access and Change) brings together leaders from the banking industry, national civil rights organizations, business, and technology to promote financial inclusion through greater access to credit and capital. The initiative seeks to reduce specific barriers that prevent full, equal, and fair participation in the nation's economy.

Psychological Well-Being May Slow Financial and Health Literacy Decline in Older Adults (PDF)
Financial Industry Regulatory Authority Investor Education Foundation
This research examines data on older adults. The findings suggest that psychological well-being helps stave off a decline in financial literacy and, by extension, promotes independence late in life.

Relationship Cons, Recovery Scams, & Money Laundering
U.S. Commodities Futures Trading Commission (CFTC)
This article provides detailed information on the long story behind this insidious type of fraud and provides warning signs to look for to help protect consumers for falling victim to these types of scams.

Spotting, Avoiding, and Reporting Fraud and Scams
Federal Trade Commission
People can now report fraud, scams, and bad business practices in their preferred language including Mandarin, Tagalog, Vietnamese, French, Arabic, Russian, Korean, Portuguese, and Polish, in addition to English and Spanish. Online and print information is also available in multiple languages on how to spot, stop, and avoid scams and what to do if a scammer is paid online.

Secure Your Financial Future: Toolkit for Individuals with Disabilities
U.S. Department of Labor
This toolkit is designed to help people with disabilities achieve financial stability. It addresses preparing for a job, maintaining a job, and retirement.

Stock Market Game and InvestQuest
Securities Industry and Financial Markets Association Foundation
The Stock Market Game is an online simulation and curriculum that instructs students in grades 4 through 12 on economics, investing, and personal finance. InvestQuest is an online educational game available as an introduction or enrichment activity.

TaxEDU Educational Resources
Tax Foundation
This organization provides educational resources on tax policy issues including lesson plans for grades 9 through 12, explainer videos, and a blog series.

The Impact of Climate Change on American Household Finances (PDF)
U.S. Department of the Treasury
This report evaluates the impacts of climate change on household finances and recommends steps to build capacity to prepare for, respond to, and recover from climate-related shocks and stresses. The report also includes a catalog of resources, including educational resources, to promote awareness about the steps households can take to prepare for and adapt to climate hazards.

Tribal and Native Resources
Financial Literacy and Education Commission
This new page on MyMoney.gov provides financial literacy and educational resources to support the financial capability of tribal families and communities. The page highlights federal agency news and resources for members of tribal and native communities and other stakeholders.

Unlocking Homeownership Campaign
American Bankers Association Foundation
The ABA Foundation launched the Unlocking Homeownership campaign to empower banks to promote homeownership education and counseling. This long-term, multi-channel campaign provides new resources and training for banks to support and complement the work of nonprofits and housing counseling organizations to grow homeownership and wealth generation, particularly in low-to-moderate income communities. Banks can sign up for free to access the resources.

Veteran Saves
Consumer Federation of America
This component of America Saves is designed to help veterans and their families build financial stability and security. Veteran Saves uses research-based principles of behavioral economics and social marketing to promote savings behavior and motivate action.


Additional Information

The information in the Financial Literacy Update was obtained from publicly available sources. Inclusion of a non-OCC event, activity, product, or hyperlink in this newsletter does not constitute an endorsement by the OCC. The OCC does not exercise editorial control over any of the information in non-OCC websites and cannot guarantee the accuracy of the information.