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Bankers Lead in Education Efforts
The Consumer Bankers Association's annual financial literacy survey shows that 97 percent of respondents sponsor or support literacy programs.
Those programs include:
- 97 percent said they offer mortgage and home ownership counseling, typically in connection with an affordable mortgage program.
- 87 percent support public school programs, including 72 percent who support the "Adopt-a-School" program, which creates partnerships between schools and local businesses.
- 71 percent have programs where employees tutor students and 45 percent had post-secondary financial literacy programs.
- 81 percent contributed to credit counseling services.
- 67 percent have programs that target predatory or abusive lending practices such as excessive interest rates or flipping.
- 65 percent offered small business development tools, which in most cases were offered through partnerships with community organizations.
For more info, visit www.cbanet.org
Copyright © 2002 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 12, No. 5, 6/02
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