Office of Financial Empowerment

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	Mayor Bloomberg and Commissioner Mintz Launch New Campaign to Help Faith Leaders Connect Their Congregants to Financial Education Resources As part of the City’s “Pass It On” campaign, DCA’s Office of Financial Empowerment began distributing to faith leaders “toolkits” of financial education materials, including information cards for their congregants urging them to call 311 or visit nyc.gov/ofe to access free or low-cost financial education services Citywide. Read the press release Search the Financial Education Network Directory_for free or low-cost help in your neighborhood Get tips on managing your money
	Mayor Bloomberg, DCA Commissioner Mintz, Daily News and CUNY Launched Your Money Helpline From December 15 through 19, New Yorkers called the Your Money Helpline for free money management information and referrals to free or low-cost financial education providers part of the City’s Financial Education Network. Read the press release Visit Daily News and CUNY Search the Financial Education Network Directory_for free or low-cost help in your neighborhood
	Mayor Bloomberg Alerts Debt-Stressed New Yorkers about Ways the City Can Help Them Take Control DCA Commissioner Mintz joined Mayor Bloomberg to announce the launch of the Office of Financial Empowerment’s public awareness campaign about taking control of personal debt, and OFE’s creation of additional Financial Empowerment Centers Citywide. Through the Financial Education Network Directory, available online or by calling 311, New Yorkers can access free and low-cost financial education programs and services Citywide, including the City’s first-ever Financial Empowerment Center in Melrose. Read the press release Search the Financial Education Network Directory Bronx residents: Learn about the Center in Melrose Get tips to take control of your debt in English or Español Learn more about balancing debt and credit
	Consumer Campus Applying for your first credit card? Shopping around for the right cell phone service? Need tips about student loans? Consumer Campus is an online resource to help NYC’s students become savvy consumers. Visit Consumer Campus Read the press release
	Is My Money Safe in the Bank? Up to $250,000 of your money is safe if you have an account at a bank that is FDIC-insured. FDIC is the Federal Deposit Insurance Corporation that ensures that your money is protected and will be returned to you safely even if your bank fails. Read about the new law increasing FDIC-insured amounts Check to see if your account is FDIC-insured Find out what happens to your deposits if your bank goes out of business Learn more Banking Tips
	Governor Paterson Signs Law to Protect New Yorkers’ Federal Benefit Funds from Illegal Seizure Banks routinely freeze the accounts of New Yorkers that contain money that should not be frozen. DCA and its Office of Financial Empowerment advocated for the passage of an Exempt Income Protection Act to protect New Yorkers’ money. Through active work with legislators, the Act was signed into New York law. Read Statement by DCA Commissioner Mintz Contacted by a debt collector? Get tips (in PDF) Read DCA's Debt Collection Guide (in PDF) File a complaint against a debt collection agency
	The Deadline to File for the Economic Stimulus Payment is October 15! Visit the IRS Web site to learn if you qualify for this rebate and how to file. Learn more Watch 30 second video (in wmv) Watch 60 second video (in wmv)
	DCA Commissioner Mintz offers New Yorkers tips to shop smart, and to teach their children a lesson that will last them a lifetime: financial responsibility. Read the press release Get Quick Lessons for Back-to-School Shopping in English or Español Parents: Get Smart Money Lessons for Your Kids in English or Español
	NYC Urges Stronger Disclosure Requirements in Lender Advertising DCA/OFE urged the Board of Governors of the Federal Reserve System to strengthen significantly disclosure requirements for banks and credit card companies marketing overdraft protection and other financial products to consumers. Read DCA/OFE’s comments regarding credit card and bank practices Read DCA/OFE’s comments regarding overdraft fees Read DCA/OFE’s comments regarding credit card products Get tips on how to avoid unnecessary banking fees Learn common credit card terms Get credit cards tips
	Mayor Bloomberg Announces New Alternative to the Federal Poverty Measure The new alternative to the Federal poverty measure was developed over the past year by the Center for Economic Opportunity. NYC is the first local government in the nation to reformulate the 40-year-old poverty measure. Read the press release Visit CEO's Web site
	IRS Issues New Scam Warning to Taxpayers Be on guard if you receive a phone call, fax, or e-mail from someone claiming to be from the IRS. New scams use "teasers" like rebate checks or refunds to steal taxpayers’ personal information. Read the IRS press release Top five scams Learn more about the Economic Stimulus Payment
	Mayor Bloomberg Releases DCA OFE’s First Neighborhood Financial Services Study; Announces Other Key Empowerment Initiatives Mayor Michael R. Bloomberg, Deputy Mayor Linda Gibbs, DCA Commissioner Jonathan Mintz, and CEO Executive Director Veronica White released the findings of the Neighborhood Financial Services Study at the Grand Opening of the Financial Empowerment Center in the Bronx. Led by DCA’s Office of Financial Empowerment, the Study examined the banking dynamics in two low-income neighborhoods and identifies public-private opportunities to increase residents’ access to mainstream financial services and products. Melrose, one of the neighborhoods studied, is the site of the newly opened Center which offers free financial counseling and coaching services to Bronx residents. Also announced was the launch of the first-ever online searchable “Financial Education Network” directory of free or low-cost financial services available Citywide. Read the press release View event photos Get a copy of the Neighborhood Financial Services Study Learn about the Financial Empowerment Center in Melrose Search the Financial Education Network Directory Learn more about the Cities for Financial Empowerment
	Introducing DCA’s “Green” Annual Report! Forget paper! View DCA’s annual report online and learn, in pictures and sound, about the agency’s work last year. Slide shows will appear on your screen in a new window. Enjoy! View the annual report
	Mayor Bloomberg and San Francisco Mayor Newsom Launch the Cities for Financial Empowerment Coalition Mayor Michael R. Bloomberg and San Francisco Mayor Gavin Newsom announced the launch of Cities for Financial Empowerment (CFE), a coalition of City governments seeking to expand the role of municipal government in improving the financial health and security of residents with low and moderate incomes. The CFE Coalition is co-chaired by the City of New York, led by DCA Commissioner Jonathan Mintz, and the City of San Francisco, led by Treasurer José Cisneros. Read the press release Visit CFE online
	DCA's OFE in The Economist DCA's Office of Financial Empowerment was recently featured in The Economist for its initiatives that not only promote increased financial education for all New Yorkers, but also provide unique financial products that fit the needs of New Yorkers with low incomes. DCA's enforcement efforts and OFE's initiatives were highlighted as unique ways City government is helping to increase financial literacy. Read the article


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