For Immediate Release - April 29, 2016

Applications Now Being Accepted for Grants to Fund High School Credit for Life Fairs

Additional Funding Will Support 2016-2017 Fairs

 Boston, MA (April 29, 2016) – The Massachusetts Division of Banks, in partnership with the State Treasurer’s Office, is allocating an additional $140,000 to the Financial Education Innovation Fund to fund Credit for Life fairs during the 2016-2017 school year. Schools must submit a completed application to the Office of the State Treasurer by June 20, 2016 to be considered for awards of up to $5,000.00. Grant recipients will be notified in August.

During the 2015-2016 school year, the Division of Banks and the Treasurer’s Office of Economic Empowerment partnered to create the Financial Education Innovation Fund. Through a comprehensive application process, the Office awarded 37 high schools across the Commonwealth nearly $140,000 in grant money to expand upon or establish Credit for Life fairs. These fairs help educate nearly 10,000 students across the Commonwealth in money and credit management.     

The grants are funded through the Division of Banks settlement over alleged unlawful lending practices. The application for the Innovation Fund initiative is available on the State Treasurer’s Office of Economic Empowerment website at www.mass.gov/treasury/innovationfund.

About the Division of Banks

The Division of Banks is an agency within the Office of Consumer Affairs and Business Regulation which oversees state-chartered banks and credit unions, check sellers, debt collectors, foreign transmittal agencies, mortgage lenders and brokers. For more information visit the Division’s website at http://www.mass.gov/dob or contact the Division of Bank’s Consumer Hotline at 1-800-495-BANK (2265).
 

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