H.R. 8373 — Improving Access to Financial Coaching Act of 2026

This section declares congressional findings that low- and moderate-income households face challenges in managing finances and debt, financial coaching improves stability and credit scores, nonprofit organizations deliver such services, the Department of the Treasury's Office of Consumer Policy can administer a national program, and uniform certification standards for coaches are needed. It states the purposes of the Act, including establishing a federal grant program for eligible organizations offering financial coaching, strengthening community-based providers, enhancing consumer financial well-being, and authorizing the Office of Consumer Policy to administer, oversee, evaluate the program, and develop certification standards for coaches and agencies.

This section establishes a grant program to be administered by the Secretary of the Treasury, acting through the Director of the Office of Consumer Policy and not later than one year after enactment, to award grants to eligible entities—including nonprofit community-based organizations, community development financial institutions (CDFIs), and minority depository institutions (MDIs)—to provide financial coaching services. Eligible entities must (1) have operated for at least one year, (2) target service in census tracts with median family income at or below 120% of metropolitan or statewide median family income, majority-minority census tracts (at least 50% racial or ethnic minority population), rural areas, or individuals at or below 120% of area median income, and (3) meet application requirements on organizational capacity, staff qualifications, work plans, financial stability, and languages served. Grants may be used for an eligible entity's general purposes or to provide subgrants and technical assistance to other eligible entities; the Director must promote financial coaching best practices and develop standardized credentialing protocols; and the section authorizes $100 million for FY2026 through FY2028, allocating 55% for direct grants to eligible entities and 45% for subgrants and technical assistance (with authority to adjust proportions if needed).