Both organizations are dedicated to supporting financial literacy, education, industry best practices, and innovative solution to support consumers

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Washington, D.C. (July 29, 2024) – The American Fintech Council (AFC), the fastest growing premier industry association representing responsible fintech companies and innovative banks has announced a new strategic partnership with the National Foundation for Credit Counseling (NFCC), the nation's largest and longest-serving network of non-profit credit counseling agencies. Both organizations will work together to support their members and promote responsible innovation in financial services to best serve American consumers.

“In a rapidly evolving technology and financial landscape, consumers need affordable, accessible, and trustworthy services and support,” said Mike Croxson, CEO of the NFCC. “The relentless pace of innovation and technology-driven services can threaten to leave consumers disoriented, without support or a human to talk to when they need help. We are proud to partner with the AFC to ensure consumers have access to the education and support they need to make the most of the very latest financial technology.”

Since 1951, the NFCC has been a leading nonprofit dedicated to improving people's financial well-being. With more than a thousand NFCC Certified Credit Counselors serving all 50 states and U.S. territories, NFCC's counselors act as financial advocates, empowering millions of consumers to take charge of their finances through one-on-one financial reviews that address credit card debt, student loans, housing decisions, and overall money management.

“It is essential that we work together with the NFCC to understand the challenges consumers are facing and the latest innovations in financial services that may serve as a critical lifeline,” said Phil Goldfeder, Chief Executive Officer at the American Fintech Council. “As a trade association built on the foundation of responsible innovation, AFC is uniquely positioned to support the work of NFCC and help our combined membership serve consumers.”

This collaborative effort will create a range of opportunities for members of both organizations to collaborate and offer innovative financial literacy programs, introduce the latest safe and affordable fintech products, and champion programs and products that create financial optionality and pathways out of debt for millions of Americans. In addition, both organizations will work together to educate their collective membership through podcasts, webinars, and by supporting each other's events.

A standards-based organization, AFC is the premier trade association representing the largest financial technology(Fintech) companies and innovative BaaS banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About the National Foundation for Credit Counseling (NFCC)

Founded in 1951, the National Foundation for Credit Counseling (NFCC) is the oldest nonprofit dedicated to improving people’s financial well-being. With 1,215 NFCC Certified Credit Counselors serving 50 states and all U.S. territories, NFCC nonprofit counselors are financial advocates, empowering millions of consumers to take charge of their finances through one-on-one financial reviews that address credit card debt, student loans, housing decisions, and overall money management. For expert guidance and advice, call (800) 388-2227 or visit www.nfcc.org.