HB 1829 - DIGEST |
Directs the department of financial institutions and the department of community, trade, and economic development to jointly establish the financial services intermediary to: (1) Improve the ability of low-income individuals to access and use mainstream financial products offered by financial institutions; |
(2) Identify strategies to make more mainstream financial products available to low-income individuals; |
(3) Coordinate with financial institutions to leverage the financial resources of low-income individuals served by community-based asset building coalitions to offer mainstream financial services to those individuals; |
(4) Consult and cooperate with organizations and government agencies that are already engaged in asset building and financial literacy activities, such as the financial literacy public-private partnership established in RCW 28A.300.450; |
(5) Enter into memoranda of agreement with community-based asset building coalitions and financial institutions; and |
(6) Perform other duties as deemed appropriate by the intermediary. |
Requires the department of financial institutions to track and monitor financial institutions' participation in the programs of the financial services intermediary and share this information with the intermediary. |