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.

Check out local articles about the first cohort of Kindergarten to College graduates!

The Class of 2023 is also the first graduating class that is part of the Kindergarten to College (K2C), marking a new milestone in City history.

“We started K2C so that every student in our public schools would know that they have a future worth saving for,” said San Francisco Treasurer José Cisneros. “K2C is beginning to deliver on the promise that every child growing up in San Francisco has not only a dream for college, but a pathway.”

The Kindergarten to College Program recently released a new video celebrating its first class of graduating students. Be moved by the stories of four amazing SFUSD students headed to college with the help of Kindergarten to College. Congratulations to K2C's to the class of 2023!

Sharpen your financial management skills during a virtual workshop series with Smart Money Financial Coaches who will host a series of monthly virtual workshops on subjects such as: Rebuilding after a Financial Crisis, Building a Better Budget, and Women and Money. Learn more and register for the virtual workshops.

Check out Smart Money Coaching on the Chronicle's podcast 'Fixing Our City'!

Listen as producer Cintia Lopez interviews OFE Director, Nicole Agbayani, Smart Money Coach, Omar Wells, and Smart Money Coaching client, Jerry Rendon, to find out more about Smart Money Coaching and how it works.

This report provides an in-depth look at student loan borrowing in the nine-county San Francisco Bay Area. As of March 1, 2018, approximately 735,000 Bay Area student loan borrowers (12.2 percent of the adult population) owed a collective $26.6 billion in student debt, with an average balance of $36,243. Nationally, total student loan debt climbed to $1.46 trillion by the end of 2018, more than doubling in size in the past decade, making it now the second largest source of consumer debt.

Explore a future worth saving for through our Summer Virtual College Tour. SFUSD students can earn a $100 scholarship in their Kindergarten to College (K2C) account by virtually touring college campuses from July 1st to August 15th.

Watch Kindergarten to College's Anniversary Celebration. Treasurer Cisneros is joined by Governor Newsom and California Treasurer Fiona Ma to celebrate a decade plus of work and innovation, and look to the future of the program.

In March 2020, K2C launched an equity incentive, called the “I Am the Future” campaign designed to accelerate targeted asset-building for students experiencing the greatest barriers to opportunity. To best reach these students, K2C selected 9 elementary schools from SFUSD’s PITCH initiative, a program aimed at closing the opportunity and achievement gaps for students facing systemic and persistent barriers to equity.