Improving Access to Financial Coaching Act of 2026

More financial coaching for low-income households

If enacted, this bill would create a national grant program to expand financial coaching services. The Treasury Office of Consumer Policy would run the program and must set it up within one year. Congress would be authorized to appropriate $100 million total for fiscal years 2026–2028. About $55 million (55%) would support grantee organizations. About $45 million (45%) would fund subgrants and technical help. Grants would go to nonprofits, community development financial institutions, and minority depository institutions that have operated at least one year. Grantees must serve areas or people at or below 120% of Area Median Income. They can also serve high-minority census tracts or rural census tracts. If serving areas with high non-English proficiency, applicants would need relationships with organizations that provide non-English services and referrals. Applicants would submit coach qualifications, work plans, budgets, languages served, and financial statements. The Director would also develop best practices and work toward standard credentialing for financial coaches and agencies.