Yellen Unveils National Strategy for Financial Inclusion

The plan aims to reduce the number of unbanked households and improve access to financial tools across the United States.

Treasury Secretary Janet Yellen announced a comprehensive strategy to enhance financial inclusion, focusing on underserved groups such as low-income, minority, and rural populations.
The plan outlines five core objectives, including promoting access to transaction accounts and expanding equitable access to credit and investments.
Approximately 4.5% of U.S. households, or nearly 6 million, remain unbanked, with higher rates among Black, Hispanic, and Native American communities.
Yellen is seeking active collaboration with financial institutions to implement the strategy, which includes opening more branches in low-income areas.
The initiative comes as voters rank the economy among their top concerns ahead of the upcoming election, highlighting the importance of financial security.