Comptroller Gould Highlights Digital Financial Literacy, Responsible Innovation, And The Role Of Community Banks

At the July 27, 2026 meeting of the Financial Literacy and Education Commission (FLEC), Comptroller of the Currency Jonathan Gould outlined the Office of the Comptroller of the Currency’s approach to financial literacy, emphasizing digital financial education, responsible innovation, and the important role that banks, particularly community banks, play in helping consumers navigate an increasingly complex financial system.

Like the remarks delivered at the same meeting by CFPB Deputy Director Mark Paoletta, Comptroller Gould’s comments reflect the Trump Administration’s broader effort to link financial literacy with increased consumer participation in the financial system and capital markets. The Comptroller also highlighted the OCC’s view that promoting responsible innovation and expanding access to financial services are complementary objectives rather than competing priorities.

Digital financial literacy as a policy priority

Comptroller Gould observed that consumers today have access to financial services that “would have been unimaginable only a few years ago,” noting that Americans can now open bank accounts on their smartphones and access financial services around the clock. At the same time, he cautioned that criminals are exploiting many of these same technologies to perpetrate increasingly sophisticated scams.

Accordingly, Gould characterized helping consumers understand both the opportunities and the risks associated with digital financial services as “one of the defining financial literacy tasks of the 21st century.” He stated that the Trump Administration is committed to leading those efforts.

The emphasis on digital financial literacy is consistent with the Administration’s broader focus on encouraging innovation in financial services while ensuring that consumers are equipped to use new products and technologies safely and effectively.

OCC educational resources

Gould highlighted several existing OCC resources designed to assist consumers and financial institutions. Among them is HelpWithMyBank.gov, which provides information and assistance to consumers who have questions or concerns regarding their national banks and federal savings associations.

He also noted that the OCC maintains a Financial Literacy Resource Directory and continues to distribute educational materials to financial institutions ranging from the nation’s largest banks to community banks.

These resources illustrate the OCC’s longstanding view that consumer education is an important complement to prudential supervision and consumer protection.

Community banks as trusted financial educators

A significant portion of the Comptroller’s remarks focused on the role of community banks in advancing financial literacy.

According to Gould, community banks are uniquely positioned to educate consumers because of their close relationships with local families and small businesses. He cited a May roundtable involving the OCC, the Federal Reserve, the FDIC, the NCUA, community banks, regional banks, and other industry participants, during which regulators heard examples of institutions partnering with schools, nonprofit organizations, and community groups to provide financial education.

The remarks reinforce the OCC’s view that financial literacy initiatives are often most effective when they are delivered through trusted local institutions rather than solely through government programs.

Financial literacy as a driver of economic participation

Perhaps the most notable aspect of Gould’s remarks was his discussion of financial literacy as a means of encouraging broader participation in the American economic system.

Quoting Treasury Secretary Scott Bessent’s observation that “For Americans to believe in capitalism, they need the opportunity to participate in it,” Gould argued that improving financial literacy enables consumers to save, borrow responsibly, invest, protect themselves against fraud, and build wealth.

He further stated that expanding financial literacy promotes “a broader culture of ownership and economic opportunity” that strengthens both the financial system and the principles of free enterprise.

The written version of Gould’s remarks went even further, including language not highlighted in the OCC’s accompanying press release. Specifically, he suggested that “Trump Accounts can be the antidote, minting a generation of capitalists who believe in America, build wealth, invest in their communities, and own a share in our nation’s economic success.” Although that language was omitted from the OCC’s news release excerpts, it reflects the Administration’s broader policy objective of encouraging ownership, investing, and wealth accumulation through financial education and expanded access to financial markets.

Looking ahead

Looking ahead, Gould emphasized that younger Americans are entering an increasingly digital financial system and should understand the role that investment, entrepreneurship, and responsible risk-taking have played in making the U.S. economy one of the world’s strongest.

He concluded by stressing that banks have an important role in providing financial literacy resources to their customers and in promoting economic growth and confidence in the nation’s capital markets.

Our observations. Comptroller Gould’s remarks provide another indication that the federal banking agencies under the Trump Administration are placing greater emphasis on financial literacy as an affirmative policy objective. Unlike prior approaches that often focused primarily on consumer protection through regulation and enforcement, the Administration appears to view financial education as an important mechanism for expanding participation in the banking system, encouraging responsible use of innovative financial products, and increasing investment and wealth creation. The remarks also underscore the Administration’s continuing support for responsible financial innovation, while recognizing that digital financial services create new risks that require consumers to be better informed and better equipped to avoid fraud and scams.