What measures does the FDIC take to promote fair access to financial services?

The FDIC promotes fair access to financial services primarily by encouraging banks to serve all markets without discrimination. This approach is rooted in the belief that everyone, regardless of their economic background, should have access to essential financial services. By advocating for inclusive banking practices, the FDIC aims to ensure that underserved and low-income communities receive the same opportunities for financial resources as more affluent populations. This includes promoting policies that expand access to credit, reduce barriers to banking, and enhance financial literacy among all consumers.

The other options reflect practices that would undermine the objective of equitable access. Mandating higher fees or limiting services to affluent customers would create further disparities in the financial sector, while implementing stricter loan approval processes could disproportionately affect those already facing challenges accessing credit. The focus on nondiscriminatory practices aligns with the FDIC’s mission to strengthen the economic foundation of communities by ensuring that all individuals can participate in the financial system.