Improving Access to Financial Coaching Act of 2026

Key Points

• This bill would create a new program within the Treasury Department to give grants to local nonprofits and community groups. These groups would use the money to provide free or low-cost financial coaching to people who need help managing their money.
• Financial coaches help people create budgets, pay down debt, improve their credit scores, and start saving for the future. This program focuses on helping families with low or moderate incomes, especially in rural areas or minority communities.
• The bill sets aside $100 million over three years for these grants. Most of the money goes directly to the groups helping people, while some is used to help smaller organizations set up their own coaching programs.
• The Treasury Department would also work on creating official standards for financial coaches. This ensures that when you talk to a coach, you are getting advice from someone who is properly trained and follows the same rules as other professionals.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.