OCC outlines financial literacy push for digital banking era

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Highlights

OCC Comptroller Jonathan V. Gould announces expanded financial education efforts targeting consumers' use of digital banking tools at the Financial Literacy and Education Commission meeting.
OCC maintains consumer assistance through HelpWithMyBank.gov, distributes resources to national and community banks, and offers a Financial Literacy Resource Directory to support education.
A May roundtable with banks and regulators emphasized community banks' roles and collaborative partnerships with schools and nonprofits to improve financial literacy and digital risk awareness.

OCC highlights education strategy and bank outreach

As reported by the Office of the Comptroller of the Currency, Comptroller Jonathan V. Gould tells a public meeting of the Financial Literacy and Education Commission that the agency is expanding practical financial education efforts as consumers increasingly use digital banking tools. He says the OCC’s approach combines support for responsible innovation with consumer guidance aimed at helping Americans understand both the benefits and risks of a more online financial system.

Gould says the OCC continues to provide consumer information through HelpWithMyBank.gov, where users can get assistance and answers to questions about their banks. He adds that the agency also shares educational resources with institutions across the country, including large national banks and community banks, and maintains a Financial Literacy Resource Directory.

Community banks and digital risks shape broader mission

Gould says community banks remain important to the financial literacy effort because of their local relationships with families and small businesses. He points to a May roundtable with banks, regional institutions and other industry stakeholders, where federal regulators discussed how institutions are working with schools, nonprofits and community groups to improve financial knowledge in the communities they serve.

The remarks frame financial literacy as both a consumer protection issue and a broader economic participation goal as younger Americans enter an increasingly digital financial system. Gould says banks have a role in promoting tools on saving, borrowing, investing and fraud awareness, while the OCC continues to work with the commission, financial institutions and educators on that mission.

In our earlier article on federal student-loan repayment recalculation errors, we covered how thousands of borrowers were told to resubmit income-driven repayment applications after receiving incorrect monthly payment amounts. We also noted that ongoing rule changes and new plan options have added confusion, making it harder for borrowers to plan their finances without clear, accurate guidance.

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