Bank On California
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Bank On California
Bank on California is an initiative started by California Governor Arnold Schwarzenegger on December 12, 2008, to help Californians open a bank account. The program seeks to encourage financial institutions to relax identification requirements when opening a bank account to include Matricula Consular de Alta Seguridads, Mexican CID cards and Tarjeta de Identificación Consular Guatemalteca, Guatemalan CID cards as well as other consular identification card, CID cards. California mayors were enlisted to promote the program, which currently includes San Francisco, Los Angeles, Oakland, California Capital Region and Inland SoCal. The program was first announced by Governor Schwarzenegger and former President Bill Clinton in ''The Wall Street Journal'' on January 24, 2008. California was lauded as the first state in the nation to start such an initiative and would be coordinated with the Federal Deposit Insurance Corporation. It seeks to draw the "unbanked" into financial institutio ...
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California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territories of the United States by population, most populous U.S. state and the List of U.S. states and territories by area, 3rd largest by area. It is also the most populated Administrative division, subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous Statistical area (United States), urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento, California, Sacramento is the state's capital, while Los Angeles is the List of largest California cities by population, most populous city in the state and the List of United States cities by population, ...
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Arnold Schwarzenegger
Arnold Alois Schwarzenegger (born July 30, 1947) is an Austrian and American actor, film producer, businessman, retired professional bodybuilder and politician who served as the 38th governor of California between 2003 and 2011. ''Time'' magazine named Schwarzenegger one of the 100 most influential people in the world in 2004 and 2007. Schwarzenegger began lifting weights at the age of 15 and went on to win the Mr. Universe title at age 20 and subsequently won the Mr. Olympia title seven times. He is widely regarded as one of the greatest bodybuilders of all time, and has written many books and articles about bodybuilding. The Arnold Sports Festival, considered the second-most important bodybuilding event after Mr. Olympia, is named after him. He appeared in the bodybuilding documentary ''Pumping Iron'' (1977). Schwarzenegger retired from bodybuilding and gained worldwide fame as a Hollywood action star, with his breakthrough in the sword and sorcery epic ''Conan the B ...
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Matricula Consular De Alta Seguridads
''Matricula'', a Latin word meaning a register, has several meanings in Christian antiquity. The word is applied first to the catalogue or roll of the clergy of a particular church; thus ''clerici immatriculati'' denoted the clergy entitled to maintenance from the resources of the church to which they were attached. Allusions to matricula in this sense are found in the second and third canons of the Council of Agde and in canon 13 of the Fourth Council of Orléans (both of the sixth century). As a registry, a matricula can also be used to refer to a document students sign at the beginning of their collegiate careers as part of a matriculation ceremony that some colleges and universities perform for incoming students to formally mark the beginning of their studies. A second use of the term was to refer to the ecclesiastical list of poor pensioners who were assisted from the church revenues; hence the names ''matricularii'', ''matriculariae'', by which persons thus assisted, together ...
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Tarjeta De Identificación Consular Guatemalteca
Tarjeta de Identificación Consular Guatemalteca (TICG) is Guatemala's consular identification card also known as the Guatemalan CID card. Guatemala began issuing this card in the United States in August 2002 following the lead of the Mexican government's foreign consular agents in the U.S. who began lobbying U.S. states, municipalities and financial institutions to accept the Mexican CID card in March 2002. Unlike Mexico's CID card application process, Guatemala requires a valid Guatemalan passport which is checked against Guatemala’s central passport database system. Guatemala's passport requires two fingerprints and a photograph and signature. Bank on California, a program launched by Governor Arnold Schwarzenegger Arnold Alois Schwarzenegger (born July 30, 1947) is an Austrian and American actor, film producer, businessman, retired professional bodybuilder and politician who served as the 38th governor of California between 2003 and 2011. ''Time'' ... in De ...
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Consular Identification Card
Consular identification (CID) cards are issued by some governments to their citizens who are living in foreign countries. They may be used, for example, by an embassy to allow its citizens to vote in a foreign country. Some jurisdictions accept them for some identification purposes. They are not certifications of legal residence within foreign countries, so CID card holders could be legal or illegal aliens. Use in the United States Use of consular identification cards is controversial within the United States, as one aspect of the controversies over illegal immigration. Issuing travel documents and passports are some of the functions performed by consular offices for their citizens. "According to the Department of State, issuance of CID cards falls within the general scope of permissible consular functions." The Vienna Convention on Consular Relations of 1963 defined the allowable activities for consulate offices such as registering its citizens within foreign countries. Some ...
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Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and again from 1983 to 1992, and as attorney general of Arkansas from 1977 to 1979. A member of the Democratic Party, Clinton became known as a New Democrat, as many of his policies reflected a centrist "Third Way" political philosophy. He is the husband of Hillary Clinton, who was a senator from New York from 2001 to 2009, secretary of state from 2009 to 2013 and the Democratic nominee for president in the 2016 presidential election. Clinton was born and raised in Arkansas and attended Georgetown University. He received a Rhodes Scholarship to study at University College, Oxford and later graduated from Yale Law School. He met Hillary Rodham at Yale; they married in 1975. After graduating from law school, Clinton returned to Arkansas ...
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The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ...
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Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ...
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Unbanked
The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available. Causes Some reasons a person might not have a bank account include: * Lack of access via a nearby bank branch or mobile phone * Minimum balance fees * Distrust of the banking system, typically due to lack of transparency regarding fees and deposit timingThe Unbanking Of America
- ''Think'' interview with economist Lisa Servon
* No access to government-issued ID, which is required to open a bank account


The unbanked in the United States

The ''unbanked'' are described by the
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Consular Identification Cards
Consular identification (CID) cards are issued by some governments to their citizens who are living in foreign countries. They may be used, for example, by an embassy to allow its citizens to vote in a foreign country. Some jurisdictions accept them for some identification purposes. They are not certifications of legal residence within foreign countries, so CID card holders could be legal or illegal aliens. Use in the United States Use of consular identification cards is controversial within the United States, as one aspect of the controversies over illegal immigration. Issuing travel documents and passports are some of the functions performed by consular offices for their citizens. "According to the Department of State, issuance of CID cards falls within the general scope of permissible consular functions." The Vienna Convention on Consular Relations of 1963 defined the allowable activities for consulate offices such as registering its citizens within foreign countries. Some j ...
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