Choosing an Account

•  NYC SafeStart Account  
  New York City partnered with banks and credit unions to offer New Yorkers a safe starter bank account.
  
  
• Find a Better Bank
  An easy-to-use survey tool that helps consumers find the best banks and switch.
  
  
• Hidden Risks: The Case for Safe and Transparent Checking Accounts 
  Pew Health Group identified five checking account practices that put consumers at financial risk, potentially exposing them to high costs for little benefit. Based on their research, Pew recommends policy solutions to protect consumers, promote a competitive marketplace, and foster a level playing field among financial institutions.

Prepaid Debit Cards

• Read DCA Commissioner Jonathan Mintz’s testimony at the Oversight Hearing on Prepaid Debit Cards, Predatory Fees and Financial Literacy (New York City Council Committee on Consumer Affairs) 
  
  
• Cities for Financial Empowerment (CFE) Coalition Principles for Prepaid Debit Cards 
  CFE recommends four basic principles that policymakers and prepaid debit card providers can follow to protect consumers.
  
  
• Compare Popular Prepaid Debit Cards
  A tool maintained by AssetPlatform.

Consumer Rights and Protections

• Debt Collection: Money Judgments and Frozen Bank Accounts
  Information for consumers from DCA.
  
  
• Consumers’ Banking Rights 
  The Federal Reserve Bank of New York ensures that banks under its jurisdiction are compliant with consumer protection laws and evaluates banks for their level of performance in meeting their communities' credit needs under the Community Reinvestment Act.
  (212) 720-5000

Overdraft 

Read press releases on overdraft:
 Department of Consumer Affairs Announces Soundbite Communications Agrees Not to Sell Text Messaging Services for Overdraft Enrollment  

Department of Consumer Affairs Commissioner Mintz Warns Banks against Using Text Messaging to Enroll Customers into Overdraft Protection Services 

Department of Consumer Affairs Declares Deceptive Overdraft Enrollment Top Fraud of the Year   

Read press release from the Federal Reserve Board on overdraft rules

Bankruptcy Basics

• Bankruptcy Basics 
  This paper from the United States Courts’ Bankruptcy Judges Division provides in-depth information for consumers about bankruptcy in simplified language.

Assistance 

• New York City Bankruptcy Assistance Project at Legal Services NYC
  Free assistance with bankruptcy filing and discharge for consumers who meet income eligibility. (646) 442-3630  
  
  
• City Bar Justice Center’s Consumer Bankruptcy Project
  Assistance with bankruptcy filing and discharge for consumers who meet income eligibility. Wait time may apply. 
  (212) 626-7383 (Monday-Friday: 9am-1pm; Tuesday, Thursday: 3:30-5:30pm)  
  
  
• LawHelp 
  LawHelp helps low and moderate income people find free legal aid programs in their communities, and answers to questions about their legal rights. Referrals and information related to housing, work, family, bankruptcy, disability, immigration, and other topics is organized by state.

Counseling 

Businesses that advertise credit counseling services must inform consumers if they are not federally approved to provide bankruptcy counseling. DCA enforces this regulation.
Read Local Law 34 of 2006

Filing 

• Filing for Bankruptcy: What to Know  
  Learn about filing for personal bankruptcy from the Federal Trade Commission including government-approved organizations for credit counselors and debtor educators.
  
  
• Bankruptcy Information Sheet  
  The U.S. Department of Justice provides general information about what happens in a bankruptcy case. The information is available for download in 17 different languages.

Fraud 

Report Suspected Bankruptcy Fraud 
New York City residents can contact the United States Department of Justice Trustee Program to report fraud or get assistance through one of two regional offices:
Manhattan: (212) 510-0500
Brooklyn: (718) 422-4960

Government Benefits

• Screen for Government Benefits 
  ACCESS NYC is a free Web site where New Yorkers can screen for eligibility and get information for City, State and Federal benefits and programs.
  
  
• Social Security   
  The U.S. Social Security Administration Web site allows consumers to apply for retirement and disability benefits, Medicare, and Extra Help with Medicare prescription drug costs. Get Social Security information in English, Español, or Other Languages.
  
  
• New York State Community Action Association (NYSCAA) Helping Hands Tool Kit 
  The Helping Hands Tool Kit contains information on a broad range of community programs and tax credits that can assist your agency’s work with low-income clients. The Tool Kit outlines and explains the benefits, eligibility guidelines, and points of contact for a host of programs that help households meet the expenses of necessities such as health care, child care, utilities, and food.
  
  
• Benefits Counseling and Enrollment  
  Single Stop helps struggling individuals and households get life-changing government cash and noncash benefits, and also provides financial advice and legal counseling.

Insurance 

• NYC Health Insurance Link 
  An unbiased resource, developed from a consumer perspective, providing detailed information about the costs and benefits of specific plans available in New York City to help consumers better understand and compare different plans.
   
  
• Finding Affordable Insurance for Your Child or Teen 
  InsureKidsNow.gov provides information about Medicaid and Children’s Health Insurance Program (CHIP) services for families who need health insurance coverage. CHIP provides free or low-cost health coverage for more than 7 million children up to age 19 and covers U.S. citizens and eligible immigrants.
  1-877-KIDS-NOW (1-877-543-7669) 
  
  • Child Health Plus 
    New York State’s Health Insurance Plan for children. Visit for eligibility information, resources, and frequently asked questions.  
  • Family Health Plus 
    New York State’s health insurance program for adults who are aged 19 to 64 and have income too high to qualify for Medicaid.
     
    
• Insurance Company Search 
  A database of companies maintained by the New York State Insurance Department.
  (800) 342-3736
   
  
• HealthCare.gov 
  The U.S. Department of Health and Human Services provides information on health insurance coverage options and how the Affordable Care Act impacts you. Find information for individuals, families, senior citizens, people with disabilities, young adults, and employers.
   
  
• Life Insurance 
  Massachusetts Mutual Life Insurance Company’s LifeBridge Free Life Insurance Program offers a no-cost $50,000, 10-year term life insurance policy for income-eligible families. If the policyholder dies within the 10 years, the policy is used to cover children’s educational expenses.

Credit Cards

•  Consumer Alert: New Protections for Credit Card Users  
  An overview of the Credit Card Accountability Responsibility and Disclosure Act of 2009.  
   
  
• Final Rule Regarding Credit Card Accountability Responsibility and Disclosure Act of 2009 
  Information from Federal Reserve Bank of New York.  
   
  
• Search Database of Consumer Credit Card Agreements
  As required by the Credit CARD Act, the Federal Reserve Board maintains an online searchable database of credit card agreements from more than 300 credit card issuers.

Credit Reports

• What is a credit report?
  A brief overview of a credit report.  
   
  
• Obtain a Credit Report 
  AnnualCreditReport.com is the only site where consumers can request their free annual credit report online, by phone, or by mail from each of the nationwide consumer credit reporting companies: Equifax, Experian, and TransUnion.  
   
  
• Place a Fraud Alert  
  Get information about putting a fraud alert or Security Freeze on a client’s credit file.  
   
  
• Pull Credit Reports or Credit Scores for Your Clients
  Credit Builders Alliance has negotiated special nonprofit agreements and low-cost nonprofit pricing with preferred partners. Organizations must meet criteria.   
   
  
• Dispute Wrong Information on Credit Report
  Under the Federal Fair Credit Reporting Act, consumers have the right to dispute wrong information on their credit report.   
   
  
• Consumer Guide to Credit Reports and Credit Scores from the Board of Governors of the Federal Reserve System 

Consumer Debt

DCA created the following materials regarding consumer debt. 
Five Loans to Avoid  
How to Read the Fine Print in Loans 
Consumer Alert: New Protections for Credit Card Users
An overview of the Credit Card Accountability Responsibility and Disclosure Act of 2009.  
Consumer Services Mediation  

Education Debt

• Student Aid on the Web 
  Free information from the U.S. Department of Education on preparing for and funding education beyond high school.
  (800) 433-3243
  Repayment Plans and Calculators   
   
  
• Student Debt Repayment Assistance  
  A guide from the Consumer Financial Protection Bureau that walks students through various options for repaying debt.    
   
  
• National Consumer Law Center’s Student Loan Borrower Assistance Project
  A resource for borrowers, their families, and advocates representing student loan borrowers who want to know more about their options and rights.   
   
  
• National Student Loan Data System 
  This resource from the U.S. Department of Education lists all student loans, regardless of servicer or lender.
   
  
• Piling It On: The Growth of Proprietary School Loans and the Consequences for Students 
  A report from the National Consumer Law Center. 
   
  
• Look before You Leap: Student Loan Shopping Tips 
  Compiled by The Project on Student Debt.

Medical Debt

• Borrowing to Stay Healthy: How Credit Card Debt Is Related to Medical Expenses 
  A report by Dēmos.

Consumer Rights and Protections

Debt Collection

• Debt Collection Information  
  DCA created the following materials regarding debt collection. 
  DCA’s Debt Collection Guide in   English    Español    中文
  Information for those who have received a notice from a debt collector.
  Debt Collection: Money Judgments and Frozen Bank Accounts   
  Consumer Services Mediation  
  
  
• Debt Collection Dispute Letter
  The Neighborhood Economic Development Advocacy Project (NEDAP) has created this sample template for New York City residents to dispute debt and direct a debt collector to stop contacting them.
  NOTE: After sending the letter, if the debt collection agency continues to contact you for any reason other than verifying the debt, file a complaint with DCA.

Debt Settlement

• Protect Your Money: Beware of Debt Settlement Services 
  Tip sheet created by DCA’s Office of Financial Empowerment with a summary of consumer rights and regulations concerning debt settlement companies. 
   
  
• Department of Consumer Affairs Declares Debt Settlement Top Fraud of the Year (March 9, 2011 press release)  
   
  
• FTC Issues Final Rule to Protect Consumers in Credit Card Debt (press release)  
  Effective October 2010, for-profit companies that sell debt relief services over the telephone may no longer charge a fee before they settle or reduce a customer’s debt.

Homeownership

• Find Classes/Counseling on Homeownership in OFE’s FEN Directory
  Select “Homeownership” as the Program Topic.
   
  
• CreditSmart: A Guide to Better Credit, Money Management, and Responsible Homeownership from Freddie Mac 

Housing 

• NYC Affordable Housing Resource Center
  Get information related to affordable apartments, public housing, Section 8 vouchers, and housing lotteries. Consumers can also call 311 (212-NEW-YORK outside NYC).

Foreclosure

• Urgent Foreclosure Help – Center for NYC Neighborhoods 
  New Yorkers can also call 311 (212-NEW-YORK outside NYC) and ask for foreclosure prevention information and assistance.  
   
  
• Find Classes/Counseling on Foreclosure Prevention in OFE’s FEN Directory 
  Select “Foreclosure Prevention” as the Program Topic.
   
  
• Foreclosure Prevention and Predatory Mortgage Lending
  Neighborhood Economic Development Advocacy Project (NEDAP) provides materials for first-time homebuyers and homeowners in New York City, including foreclosure prevention guide and scam warning signs. 
   
  
• Avoiding Foreclosure
  Information from the U.S. Department of Housing and Urban Development (HUD). Consumers can also call (800) 569-4287 to find a HUD counselor in their area. 
   
  
• Making Home Affordable
  An official program offered by the Departments of Treasury and Housing and Urban Development to help homeowners avoid foreclosure.

Mortgage Loan Scams

• Report a scam 
  There are four ways to report scam artists to the authorities. The campaign helps track predatory practices nationally.
• Become a partner 
  By registering as a campaign partner, you can access a toolkit of ready-made graphics, creative elements, and written materials for distribution.  
   
  
• Mortgage Assistance Relief Scams: Another Potential Stress for Homeowners in Distress   
  Information from the Federal Trade Commission (FTC).
  
  
• Read DCA comments to Mortgage Assistance Relief Services (MARS) Rulemaking submitted to the Federal Trade Commission

• Translated Consumer Tips and Guides
  A number of OFE’s financial education materials are available in multiple languages. 
   
  
• Immigrant Civic Engagement Zones  
  The City is establishing five Immigrant Civic Engagement Zones to provide tools to immigrant communities to better access City government, promote financial empowerment, enhance immigrant entrepreneurship, and help support college readiness opportunities for immigrant families.  
   
  
• Business Center for New Americans (BCNA)
  BCNA uses education and coaching to help refugees, immigrants, women, and other New Yorkers successfully establish and run small businesses, save money, and invest in their first home.  
   
  
• NYC Immigrant Financial Justice Project
  Visit the Neighborhood Economic Development Advocacy Project’s Web site to learn about the IFJ Network, Community Education, Organizing Support, Legal Assistance, and Resources, including the brochure Truth about Immigrants’ Banking Rights in English, Spanish, and Arabic.

Potential Predatory Pitfalls  

• DCA’s Using an Immigration Assistance Service Provider: Tips for Consumers  
  A guide with tips when using an immigration assistance service provider in English, Spanish, Bengali, Chinese, Haitian Creole, Korean, and Russian; information about Executive Order 41; a model contract; and tips about Notario Público in English and Spanish.

Taxes 

Individual Taxpayer Identification Number
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but who do not have and are not eligible to obtain a Social Security Number. Consumers can also call (800) 829-1040.
Learn more from the IRS 
Understanding Your Individual Taxpayer Identification Number
Find a New York Acceptance Agent

Investing 

• Find Classes on Investing in OFE’s FEN Directory 
  Select “Investment” as the Program Topic.
   
  
• Access Pro Bono Services from the Financial Planning Association of New York (FPANY)  
  FPANY can provide customized workshops and coaching for your clients that includes savings and investments, retirement planning, insurance, and wills.   
   
  
• FINRA’s Investors Page
  The Financial Industry Regulatory Authority (FINRA) offers a wide range of information and tools to help investors protect themselves and better understand the basic principles of saving and investing.

Consumer Rights and Protections

• Look up a brokerage firm or broker using FINRA’s BrokerCheck tool    
   
  
• Access services and tools from the U.S. Securities and Exchange Commission Office of Investor Education and Advocacy   
  Call (888) SEC-6585 to obtain free investor education materials.

Future Planning

• Use QuickCheck to find benefits for older New Yorkers  
  Available on the NYC Department for the Aging Web site, QuickCheck is a simple-to-use tool that can help you determine your clients’ eligibility for benefit programs designed to aid older New Yorkers.  
   
  
• Estimate Social Security Retirement Benefits 
  Use the Retirement Estimator, a tool available on the U.S. Social Security Administration Web site.  
   
  
• Taking the Mystery Out of Retirement Planning 
  A publication developed by the U.S. Department of Labor.  
   
  
• The Basics of Annuities   
  Insure.com provides basic information on how annuities work to help consumers understand and choose the right long-term products for them.

Top Scams

• Department of Consumer Affairs Declares Predatory Schools Top Fraud of 2012
  Press release from DCA.
   
  
• Five Loans to Avoid 
   
  
• Marketplace Scams: Top Five DCA Complaints 
  Information on the top five categories of consumer complaints and tips on how to avoid them.

Bankruptcy Fraud

• Report Suspected Bankruptcy Fraud  
  New York City residents can contact the United States Department of Justice Trustee Program to report fraud or get assistance through one of two regional offices:
  Manhattan: (212) 510-0500
  Brooklyn: (718) 422-4960

Debt Collection and Settlement

• Debt Collection: Money Judgments and Frozen Bank Accounts 
  Information for consumers from DCA.  
   
  
• Protect Your Money: Beware of Debt Settlement Services  
  Tip sheet created by DCA’s Office of Financial Empowerment with a summary of consumer rights and regulations concerning debt settlement companies.  
   
  
• Department of Consumer Affairs Declares Debt Settlement Top Fraud of the Year (March 9, 2011 press release)   
   
  
• FTC Issues Final Rule to Protect Consumers in Credit Card Debt (press release)
  Effective October 2010, for-profit companies that sell debt relief services over the telephone may no longer charge a fee before they settle or reduce a customer’s debt.

Identity Theft

• Action Plan for Victims of Identity Theft 
  Four steps to take immediately to protect your client’s name and credit.  
   
  
• Place a Fraud Alert 
  Get information about putting a fraud alert or Security Freeze on a client’s credit file.

Identity Theft and Taxes

Clients who have not been able to file their taxes because their Social Security Numbers have already been used can call (800) 908-4490 to report the crime to the IRS’ Identity Protection Specialized Unit.

Mortgage Loan Scams

• Assistance for Victims of Loan Modification Scams – Center for NYC Neighborhoods 
  New Yorkers can also call 311 (212-NEW-YORK outside NYC) and ask for foreclosure prevention information and assistance.  
   
  Loan Modification Scam Alert
• Report a scam  
  There are four ways to report scam artists to the authorities. The campaign helps track predatory practices nationally.  
  
• Become a partner  
  By registering as a campaign partner, you can access a toolkit of ready-made graphics, creative elements, and written materials for distribution.  
   
  
• Mortgage Assistance Relief Scams: Another Potential Stress for Homeowners in Distress   
  Information from the Federal Trade Commission (FTC).   
   
  
• Read DCA comments to Mortgage Assistance Relief Services (MARS) Rulemaking submitted to the Federal Trade Commission 

Other Potential Predatory Pitfalls

• DCA’s Using an Immigration Assistance Service Provider: Tips for Consumers 
  A guide with tips when using an immigration assistance service provider in English, Spanish, Bengali, Chinese, Haitian Creole, Korean, and Russian; information about Executive Order 41; a model contract; and tips about Notario Público in English and Spanish.

• Department of Consumer Affairs Declares Debt Settlement Top Fraud of 2011 
  Press release from DCA about predatory debt settlement companies. 
   
  
• The Top 10 Financial Products and Services that Must Be Regulated in 2010  
  Article by DCA Commissioner Jonathan Mintz.  
   
  
• OFE Advocacy and Policy 
  OFE works actively with legislators to provide advice, testimony, and support for legislation affecting New Yorkers with low incomes.  
   
  
• OFE Research Publications 
  OFE has produced numerous publications based on primary research and secondary data analysis that offer an evaluation of current programs and disseminate promising practices in asset building and financial education. 
  Featured Publications
  • Municipal Financial Empowerment: A Supervitamin for Public Programs
    The report series builds the case that fully integrating financial empowerment and asset building strategies into public programs will lead to more effective service delivery, improving outcomes while potentially saving money.
  • SaveUSA Program Implementation: Insights from the Field 
    Offered nationally for the first time in 2011, SaveUSA is a tax time matched savings program designed to encourage short-term savings among tax filers with low to moderate incomes. This brief documents Year 1 of the program, with a focus on key implementation lessons for policymakers, advocates, and funders to highlight tax time savings in their work and provide a framework for further replication.
  • Financial Empowerment (FE) Brief: February 2011 
    Summarizes research findings from the Citywide Financial Services Study commissioned by OFE.
  • The $aveNYC Account: Innovation in Asset Building 
    A Research Update that presents highlights from the first three years of the $aveNYC Account program which has successfully encouraged New Yorkers with low incomes to build savings at tax time.
     
    
• Cities for Financial Empowerment Coalition 
  Co-chaired by New York City and San Francisco, the Cities for Financial Empowerment (CFE) Coalition seeks to expand what municipal governments can and should do on behalf of their residents with low and moderate incomes.

Asset Building Programs

• NYC SafeStart Account (safe starter bank account)   
   
  
• SaveUSA Account (Tax Time savings product) 
  
  
• AssetPlatform.org trainings on Savings 
  AssetPlatform.org is a resource for financial education professionals. Trainings are free, but registration is required to access them. 
  
  
• Individual Development Accounts (IDAs)
  Matched savings accounts that help people with modest means save toward a specific asset-related purchase, such as a home.
  Learn more from the Center for Enterprise Development (CFED)   
  CFED’s IDA Directory 

Savings Account Models

Children’s Savings Accounts

• Saving for Education, Entrepreneurship and Downpayment (SEED)   
   
  
• Kindergarten to College (K2C) program
  K2C is a project of the San Francisco Mayor's Office, the Treasurer's Office of Financial Empowerment, the Department of Children Youth and Families, the San Francisco Unified School District, EARN, CFED, the San Francisco Foundation, the New America Foundation and Stanford University. Accounts are held at Citibank by the City and County of San Francisco.
  Learn more
  Read the press release    
   
  
• San Antonio’s Cribs to College Program 

Employee Savings Accounts

• EasySave Account
  **Available to New York City Employees Only**
  See III. OFE Financial Empowerment Strategies, Strategy 3 for information about EasySave. The City of New York pioneered an employee savings program that automatically diverts a set amount of post-tax wages into a Municipal Credit Union (MCU) savings account.
   
  
• AutoSave
  A proposal to reverse America's savings decline and make savings automative, flexible and inclusive.

• Find Classes on Entrepreneurship in OFE’s FEN Directory 
  Select “Entrepreneurship” as the Program Topic.
   
  
• Financing Assistance from NYC Business Solutions
  NYC Business Solutions offers businesses in New York City nine free services to help them succeed.  
   
  
• Loans and Grant Information from the U.S. Small Business Administration  

Tax Preparation

• DCA Tax Preparation Services Consumer Guide 
  Includes the Consumer Bill of Rights Regarding Tax Preparers in English, Spanish, Arabic, Bengali, Chinese, Haitian Creole, Korean, and Russian.  
   
  
• Free or Low-Cost Tax Filing Options  
  Please note that more tax filing options will be available in January 2012.

New Tax Credits and Reforms to Existing Tax Credits

• The American Recovery and Reinvestment Act of 2009: Impact on Personal Income Tax  
  Learn how new tax credits and reforms to existing tax credits can help your clients maximize their incomes.  
  
  

Individual Taxpayer Identification Number (ITIN)

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but who do not have and are not eligible to obtain a Social Security Number. Consumers can also call (800) 829-1040.
Learn more from the IRS 
Understanding Your Individual Taxpayer Identification Number
Find a New York Acceptance Agent
How to Become an Acceptance Agent for IRS ITIN Numbers