National Urban League Applauds Introduction of the Improving Access to Financial Coaching Act of 2026

FOR IMMEDIATE RELEASE

Washington, D.C. [April 23, 2026] — The National Urban League today applauded the introduction of the Improving Access to Financial Coaching Act of 2026, a timely and crucial bill that would provide resources to expand access to free, high-quality financial coaching for working families and underserved communities across the nation to assist them in climbing the economic ladder.

The bill would establish a federal grant program within the U.S. Department of the Treasury to support nonprofit, financial institutions, and community-based organizations in delivering trusted, one-on-one financial guidance, similar to the Housing Counseling program offered through the U.S. Department of Housing and Urban Development. 

If enacted, the bill proposes investing $100 million annually to expand financial coaching services and strengthen community-based providers' capacity to deliver measurable improvements in financial well-being and economic mobility for millions of Americans. These services help individuals build savings, reduce debt, improve credit, and access safe financial products.

By centering low- and moderate-income communities, historically underserved communities, and rural areas, the legislation aims to close persisting gaps in financial access and opportunity.

“Financial stability should be a foundational right for every working family in America, not a privilege reserved for those with access to wealth and insider knowledge. The Improving Access to Financial Coaching Act of 2026 represents a critical step toward closing that gap by investing in trusted, community-based organizations that meet people where they are and provide the tools, guidance, and confidence needed to build lasting financial security", said Marc H. Morial,  President and CEO of the National Urban League.

“We applaud Representative Sylvia Garcia for her leadership and are proud to have helped shape this legislation, recognizing how critical financial coaching is as a tool for building wealth and expanding opportunity for all. The National Urban League will continue to work to ensure this legislation advances and delivers for the communities we serve."

The National Urban League joined a coalition of leading national organizations, including UnidosUS, the National Coalition for Asian Pacific American Community Development, and the Local Initiatives Support Corporation, to champion the creation of a national financial coaching program and develop a uniform standard of coaching quality and certification across the nation.