Industry Letter

Industry Letter  April 2019: Financial Capability Month

Date: 04/16/2019
Organization: Division of Banks
Office of Consumer Affairs and Business Regulation
Referenced Sources: DOB connects

To the Chief Executive Officer Addressed:

The Division of Banks and the Office of Consumer Affairs and Business Regulation are celebrating Financial Capability Month.  We wish to take this opportunity to encourage financial institutions to help inform consumers about savings programs, financial literacy, or to simply foster awareness about household budgeting. 

Financial Capability Month is a great occasion to promote savings and financial wellness.  Keep in mind that by building financial capabilities across our communities you are advancing financial awareness and helping to enhance asset-building opportunities.  Efforts may also qualify for Community Reinvestment Act (CRA) credit consideration.  Below are some suggested resources and events: 

  • National Financial Capability Month
  • Federal Deposit Insurance Corporation Money Smart tool webinar, April 17th
  • Massachusetts high schools hosting Credit for Life financial reality fairs this school year
  • Operation Money Wise veteran/military community awards will be announced later this month.
  • Basic Banking and CRA Connection, May 16th Webinar: Co-hosted by the Massachusetts Community and Banking Council and the Division of Banks to highlight the benefits of participating in the Basic Banking program and CRA consideration. 

We encourage you to explore opportunities to promote financial wellness. Thank you for your ongoing commitment to serving your customers and our communities.


Merrily S. Gerrish
Acting Commissioner of Banks

Edward A. Palleschi
Office of Consumer Affairs and Business Regulation

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