In support of state-wide efforts to bring more Californians into the financial mainstream, the State of California could deliver a pre-paid account through the state’s tax filing process. The Assets and Transaction Account, or ATA, would expedite tax filers’ access to their tax refunds and serve as a safe, affordable, and convenient financial tool for lower-income Californians to conduct routine financial transactions and build saving throughout the year.
The state tax filing process presents a unique opportunity to reach and deliver a valuable financial product to millions of under-banked Californians, while also saving the state government millions of dollars each year through the electronic delivery of tax refunds.
The full report is available below in PDF format.
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