OCC Comptroller Gould Emphasizes Financial Literacy and Digital Innovation

Comptroller of the Currency Jonathan V. Gould highlighted the Office of the Comptroller of the Currency's (OCC) commitment to expanding financial literacy, fostering responsible innovation, and equipping consumers with essential educational resources during his remarks at the Financial Literacy and Education Commission meeting.

Gould noted the rapid evolution of financial tools, allowing 24/7 access via phones, but also highlighted the rise of sophisticated scams. He emphasized that helping Americans navigate the opportunities and risks of the new digital financial system is a "defining financial literacy task of the 21st century," which the Trump Administration is leading.

The OCC provides practical educational resources through HelpWithMyBank.gov, offering information and assistance to consumers. It also shares resources with financial institutions nationwide, from large national banks to community banks, and maintains a Financial Literacy Resource Directory.

Community banks are crucial partners in this endeavor, serving families and small businesses with local knowledge and personal relationships. A recent roundtable convened by federal regulators, including Gould, gathered insights from these banks and other industry stakeholders on their financial literacy initiatives.

Financial literacy empowers Americans to save for the future, protect against fraud, and participate fully in the economy. As Secretary Bessent said, "For Americans to believe in capitalism, they need the opportunity to participate in it." Banks play a vital role in fostering informed consumers, which strengthens the financial system and reinforces the principles of free enterprise.

Young Americans are entering a financial system that is becoming more digital every year. Banks have an important role to play in promulgating financial literacy tools and resources for their customers and helping drive economic growth and conviction in our capital markets. The OCC, under Secretary Bessent’s leadership and alongside partners, is dedicated to advancing this important mission.