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Remarks by Chairman Martin J. Gruenberg on Cities for Financial Empowerment Fund at the
2023 Bank On National Conference
Good morning. I would like to begin by thanking Jonathan Mintz and the Cities for Financial Empowerment Fund for the invitation to speak with you today. I would also like to take a moment, at the outset, to offer my appreciation to all of you as Bank On members for your efforts to help Americans establish banking relationships. Whether you are with a financial institution, a community organization, serve as a civic leader, policymaker, or in another capacity, the work you do to advance the Bank On mission is extraordinarily impactful.
The FDIC shares the Bank On movement’s commitment to advancing Americans’ economic inclusion in the banking system. Positive banking relationships are fundamental to consumers’ ability to benefit from the opportunities afforded by the nation’s economy. These relationships provide families with safe options for receiving and storing their paychecks and the ability to access a range of products and services that can help them manage financial affairs, build savings, and establish and make use of consumer credit. Moreover, relationships with insured financial institutions come with important safeguards, including protections against unauthorized transactions, the guarantee of timely availability of funds, and, critically, deposit insurance.
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