WASHINGTON, D.C. – The Consumer Financial Protection Bureau said it is partnering with seven communities across the country to help “build financial resiliency” among Americans.
The partnerships, part of the Bureau’s “Start Small, Save Up” initiative, aim to increase the number of people having sufficient liquid savings by testing new approaches as well as identifying existing approaches that can assist Americans to become more financially secure, the CFPB said.
The CFPB reported it will provide training, technical assistance and other technical supports to help community-based organizations build or expand their financial resiliency initiatives. The communities selected are: Great Falls, Mont.; Little Rock, Ark.; Louisville; Manchester, N.H.; Richmond, Va.; Seattle and St. Louis.
According to the Bureau, the seven communities were among a large number that were considered and represent a broad cross section of the country’s population. Lead organizations in each community applied to the Bureau to participate in this partnership and after thorough consideration and due diligence these seven were selected.