Fed’s Bowman: Community banks are the key to financial inclusion

Community banks are indispensable in providing access to financial products and services, especially in remote or rural areas, according to Federal Reserve Governor Michelle Bowman.

Details: Speaking in Anchorage, Bowman said banks in Alaska are the front-line providers for the state’s communities. She added that banks have been impressive in their efforts to address financial inclusion issues such as geographic location, products that meet specific customer needs, the absence of financial literacy education, and lack of access to technology and reliable internet.