“As we celebrate 20 years of the Working Families Credit, we are reminded that the most efficient and effective way to help struggling families is to put money directly into their hands,” said Treasurer José Cisneros. “Families know best how to address their own needs. By trusting families to make the right choices, we not only uplift individual households but also strengthen the financial resilience of our entire community.”

OFE examines branch availability across neighborhoods and find that the Fillmore and Japantown are among the areas in San Francisco with meaningfully lower levels of full-service physical banking access. The Fillmore, in particular, is within a broader region that lacks robust bank branch access. This report offers recommendations to community members, policymakers, and financial institutions.

When a financial emergency strikes, you may be looking for a quick, relatively small loan to get you through to your next paycheck. Here are some things to think about as you look through your options, plus a calculator to compare the costs of different flat-fee loans.

Kindergarten to College (K2C) has automatically provides every K-12 public school student with a K2C account at Citibank seeded with $50 for their future education. The first findings from K2C’s evaluation show positive and promising effects:

- K2C increased college enrollment for historically underrepresented students, closing 30% of the gap with historically represented students.

- K2C increased college enrollment for historically underrepresented students, closing 30% of the gap with historically represented students.

Treasurer José Cisneros announced today that his Office’s free, one-on-one financial counseling program has helped clients to eliminate four million dollars in debt, and is today relaunching as the San Francisco Financial Empowerment Center (FEC).

"Financial counseling is an essential tool in our fight for economic security in San Francisco," said Treasurer José Cisneros. "I encourage anyone who lives, works or receives services in San Francisco to make an appointment with a financial counselor today to get help eliminating debt and saving for your future."

The Smart Money Coaching (SMC) program has become a Financial Empowerment Center (FEC). FECs are a national financial counseling model championed by the Cities for Financial Empowerment Fund. The transition provides San Francisco's program with access to infrastructure and a valuable learning community to strengthen services and continue growing. This report reflects on SMC's achievements in its first eight years (2015-2023) and outlines the next chapter of the program’s exciting evolution.

Newcomers face unique financial challenges, particularly when you have recently arrived to the United States. Establishing a secure financial foundation is critical to providing for your family and accomplishing your life goals in a new country. The San Francisco Office of Financial Empowerment (OFE) and Office of Civic Engagement and Immigrant Affairs (OCEIA) created this roadmap to guide newcomers on initial steps you can take toward greater financial inclusion.

City Attorney David Chiu and Treasurer José Cisneros issued statements today applauding the United States Supreme Court's decision in CFPB v. Community Financial Services Association of America, which ruled that the Consumer Financial Protection Bureau’s (CFPB) funding method is constitutional. The decision is a victory for the CFPB, as it ensures their ability to continue protecting consumers from predatory financial practices.

SF Lends is an initiative of the Office of the Treasurer & Tax Collector and the City Administrator’s Office that aims to connect small businesses to affordable loans and lines of credit for their day-to-day cashflow needs. These financial products may be a great fit for small businesses certified as Local Business Enterprises (LBEs) who have contracts with the city.

Bank of America betrayed customers by opening credit card accounts without consent, double-dipping on insufficient fund fees, and withholding credit card reward bonuses. The harm to individuals is significant, and these actions will continue to erode trust in our banking institutions. I’m grateful to the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) for their actions and commitment to repair for those impacted by Bank of America.

On June 30, 2023, the U.S. Supreme Court struck down critical student debt relief from 40 million borrowers by ruling in favor of state officials in Biden v. Nebraska, formally blocking President Biden’s plan to use emergency powers to cancel up to $20,000 for student loan borrowers in the wake of the COVID-19 emergency.

SF Lends seeks to support small businesses, by supporting their access to a loan or line of credit and the ability to open a business bank account. The program’s desired outcomes include expansion of financial capacity, improved short-term cash flow, improved credit scores and establishment of a strong relationship between the small business and a well-reputed financial institution. This program will allow small businesses to develop an understanding of how banks approach credit, risk and small business lending.