CFPB Introduces Financial Coaching Initiative

CFPB

On May 20, the CFPB launched its Financial Coaching Initiative, an educational program designed to help “recently-transitioned veterans and economically vulnerable consumers.” The program places 60 certified financial coaches – all of whom will be accredited by the Association for Financial Counseling and Planning Education – at diverse, non-profit partner organizations around the country. With over 49 million people living below the poverty line, and at least 68 million financially underserved, the goal of the CFPB’s new educational service is to “help these consumers make good financial decisions and reach their financial goals.” The program is being paid for by the CFPB’s Civil Penalty Fund.