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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