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A commitment to financial literacy training can help turn unbanked, cash-strapped consumers into profitable, bankable customers.
December 29 -
The market for the serving underbanked customers expanded last year, mostly due to a rising demand for subprime auto loans, the Center for Financial Services Innovation said Thursday.
December 11 -
Popular Community Bank plans to bring a financial literary program run by nonprofit Operation HOPE to its branches in Harlem and the Bronx.
November 22
SunTrust Banks has
The grant will be used to fund the HOPE Inside program, which offers financial counseling within bank branches. The counseling sessions are offered by Operation Hope representatives, and cover topics such as cash management, homeownership and the earned income tax credit.
A portion of the grant will also be used to train bank employees on how to provide financial education to underbanked communities.
"An important way that SunTrust fulfills its purpose is by ensuring that all consumers have access to the education they need to make critical financial decisions," William Rogers, the chief executive at Atlanta-based SunTrust, said in a press release Wednesday.
The grant expands the SunTrust's partnership with Operation Hope. Since 2013, the group has offered financial literacy services within SunTrust branches to 2,000 clients in Atlanta, Memphis and Washington.
SunTrust Banks has assets of $186 billion and operates in 11 Southeastern and mid-Atlantic states and the District of Columbia. Operation Hope is based in Los Angeles and also has key operations in Atlanta.
