The American Banking Association Foundation unveiled a new report that laid out the role of financial institutions in the coming decades.
The report, Ideas to Impact: A Framework for Influencing Banking’s Next Century, profiles forward-looking ideas from bankers, community leaders and nonprofit partners on how to drive economic and community impact. Part of the ABA Foundation’s 100th anniversary, the report highlights how banks can expand access to housing, strengthen local economies, promote financial inclusion and protect vulnerable populations. Sourced through a nationwide call for solutions to financial challenges facing American consumers, the report lays out solutions in seven focus areas – affordable housing, community & economic development, financial education, financial inclusion, protecting older Americans, supporting military families and volunteerism.
“Banks are uniquely positioned to help build a more resilient and inclusive financial future, and this report offers tangible ideas for how our industry can continue to meet evolving community needs,” Lindsay Torrico, executive director of the ABA Foundation, said. “The report captures the bold imagination and deep commitment of people both in and outside of banking who believe that stronger communities are built through partnership, innovation and a shared determination to expand opportunity for all. We deeply appreciate the thoughtful ideas submitted and hope they get careful consideration from banks and policymakers alike.”
The ABA Foundation is a 501(c)3 that helps bankers provide financial education to individuals, and to elevate the financial issues around affordable housing and community development. The foundation said the report is free and available to ABA members, non-members and non-profit organizations.