7주차 | 경제·금융·무역_조도연

[조도연]

행사명 (Event)	Crossing the Credit Barrier: Advancing Access and Creating Opportunities Conference
주제 (Theme)	금융 포용성 확대 및 신속결제·소액대출을 통한 저소득·중산층의 신용 접근성 강화
연사 (Speaker)	Michael S. Barr미국 연방준비제도 이사회(Board of Governors) 이사
일시 (Date)	2025년 10월 22일
장소 (Location)	미국 미주리주 세인트루이스 (St. Louis, Missouri)
주최 (Hosts)	세인트루이스·보스턴·리치먼드·필라델피아 연방준비은행

1)Community Reinvestment Act(CRA)	지역사회 재투자법	은행이 저소득·중산층 지역사회에 대한 신용 제공 책임을 지도록 한 미 연방법.
2)Bank On / Bank On account	뱅크 온 프로그램 / 뱅크 온 계좌	저비용·기본 은행계좌 접근성 확대를 위한 공공–민간 이니셔티브. 보통 프로그램으로 처리
3)Cities for Financial Empowerment Fund (CFE Fund)	CFE 펀드	Bank On 인증·운영 지원 기관. 첫 언급에 영문 병기 후 CFE 펀드로 약칭
4)overdraft	초과 인출 / 당좌대월
5)The Bank On National Data (BOND) Hub	Bank On 전국 데이터 허브(BOND 허브)	Bank On 계좌 확산 현황을 집계·분석하는 데이터 플랫폼
6)underwriting loans	대출 심사 / 신용 심사
7)2024 Survey of Household Economics and Decisionmaking (SHED)	2024년 가계 경제 및 의사결정 조사	연준의 공식 가계 설문.
8)payday loan	급여일 대출	다음 급여일에 상환하는 조건으로 받는 초단기·고금리 대출. 현금이 급한 사람을 대상으로 하며,이자와 수수료가 매우 높음
9)deposit advance	급여·예금 담보 소액 대출/ 선지급 대출	급여 입금 전 당겨 쓰는 형태의 단기 금융상품
10)credit file	신용 정보	A credit file is a collection of data about an individual's borrowing and repayment activity.

(451 words)

Thank you to the Federal Reserve Banks for hosting today’s discussions.

You have organized a dynamic conversation on topics that have a significant bearing on the financial well-being of consumers and communities.

Financial inclusion and access to credit have been a long-standing focus of my work and a key component of the Federal Reserve’s mission. 

The Fed has an important role in implementing a series of laws passed by Congress related to access to credit, including the Community Reinvestment Act. 

Today, I will share my perspective on the critical role that bank accounts, faster payments, and small-dollar loans can play in serving the needs of low- and moderate-income communities.

The ability to manage personal financial decisions safely and dependably begins with access to a bank account.

One program that has been successful in expanding account access is Bank On, supported by the Cities for Financial Empowerment Fund(CFE Fund). 

Bank On accounts certified by the CFE Fund meet standards including low minimum deposits for account opening and low maintenance, overdraft, and other unexpected fees.

The Bank On National Data (BOND) Hub is a critical data set that helps us understand how financial institutions are expanding access to low-cost banking for consumers.

It also helps us better understand how this access directly benefits different households in numerous ways.

Beyond account access, innovations such as more efficient payments systems, small dollar loans, and underwriting loans using alternative data, such as cash flows facilitate greater financial inclusion for consumers.

The ability to move money faster can empower households by providing them with more control over financial inflows and outflows—receiving their income and paying their bills. 

Better control over their financial lives can reduce knock-on effects from financial volatility, particularly for low-to-moderate income households with less financial slack.

Likewise, products like bank-offered small-dollar loans can provide affordable, short-term liquidity to cover emergencies and unexpected expenses.

Data from the Fed’s 2024 Survey of Household Economics and Decisionmaking provide insights into how households might handle a small-dollar liquidity need. 

The short answer is it would be tough for many households.

When asked how they would respond if confronted with an unexpected $400 expense,

nearly 20 percent of adults said they would have paid at least in part

by selling something, using a payday loan, deposit advance, or overdraft.

When looking at households with incomes of under $25,000, this number increased to 46 percent.

A bank-offered small-dollar loan could provide help to these households.

Some banks have begun offering small-dollar loans that are partially or wholly underwritten using alternative financial data, such as cash-flows, including deposits, paying rent and utilities, and so on.

This type of underwriting can help assess the creditworthiness of consumers with thin or no credit files.