Dallas wants residents to improve financial acumen
DALLAS (AP) - City officials have started a campaign to help low- and moderate-income Dallas residents improve their finances.
Officials say the goal of the new Bank on Dallas campaign launched Wednesday is to have at least 25,000 new bank accounts opened over a two-year period.
City Councilman Jerry Allen says the project, in the works for six months, will help increase the quality of life through financial literacy and education.
Police Lt. Herb Ashford says the initiative also will serve as a crime prevention tool. Ashford says persuading low-income residents to not carry large sums of money will help reduce thefts.
Officials hope the campaign will help reduce reliance on predatory payday lenders who charge high interest rates.