Improving Access to Financial Coaching Act of 2026

Grants for community financial coaching

This bill would require the Treasury to set up a grant program to fund financial coaching. The program would be established not later than one year after enactment. If enacted, Congress would authorize $100 million for fiscal years 2026 through 2028, initially split about $55 million for general grants and $45 million for subgrants and technical help. Eligible applicants would include nonprofits, community development financial institutions, and minority depository institutions that have operated at least one year. Grants would target programs in low- or moderate-income tracts, majority-minority tracts, rural areas, or that serve people with income at or below 120% of area median income. Grants could pay an entity's general costs or be used to award subgrants and provide technical assistance. Applicants would need to provide staff qualifications and credentials, a work plan, financial statements and a budget, and languages served. The Treasury director would promote best practices and help develop standardized credentialing for financial coaches and agencies.