What We Stand For: Inclusive Growth

America’s banks are key to economic prosperity across the country—supporting small businesses, revitalizing neighborhoods, and building wealth for American families. As cornerstones of their local economies, banks can help ensure that every American has a truly equal opportunity to prosper. ABA supports private initiatives and government policies that expand our collective ability to meet unmet needs, invest in untapped potential, and support the financial well-being of every American household. 

What We’re Working On

• Supporting Bank On – ABA has joined the Bank On national movement to reduce the number of unbanked households.
• Sustaining and growing rural America by supporting the Access to Credit for our Rural Economy (ACRE) Act that would lower the cost of credit for farmers and ranchers financing agricultural real estate, as well as rural homeowners seeking credit for housing in communities of 2,500 people or fewer.
• Enacting the Affordable Housing Credit Improvement Act and the Neighborhood Homes Investment Act, which would enable the construction of an additional two million affordable homes over the next decade and generate equity investments to rehabilitate properties in distressed neighborhoods, respectively.
• Enacting the New Market Tax Credit Extension Act, which would make the New Market Tax Credit program permanent. New Market Tax Credits are a vital tool to promote greater economic growth in economically distressed rural, urban and tribal communities by stimulating the private investment needed to grow businesses and create jobs.
• Training bankers on diversity, equity and inclusion—ABA is helping bankers in every role understand and meet the diverse needs of customers, so everyone feels comfortable and welcome in their local bank branch.
• Strengthening mission driven banks—ABA supports policies, programs and innovations that encourage financial inclusion, including increased funding for minority depository institutions (MDIs) and community development financial institutions (CDFIs). These institutions have a long history and proven track record of providing economic investment and resources to financially underserved communities.
• Improving the financial well-being of consumers at every age—The ABA Foundation provides free financial education programs and resources for bankers to help them strengthen the financial well-being of their communities. Every year, the Foundation works with nearly a thousand banks across the country to jumpstart the financial education of over a half million consumers. 
• Expanding and preserving homeownership opportunities—Banks are key partners in making homeownership attainable for all Americans. ABA’s efforts to ensure homeownership is an affordable and viable option include educating consumers on their options and supporting policies that help close the homeownership gap in underserved communities. Read about ABA’s advocacy efforts to support thriving, livable communities.