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50-99 employees

The Financial Health Network Comment Letter to the CFPB’s Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process

The Financial Health Network submitted its response to the CFPB’s request for information regarding use of alternative data and modeling techniques in the credit process on February 16, 2017. In the letter, the Financial Health Network acknowledges that the use of alternative data in the credit process poses both risks and benefits to consumers. The letter also states the Financial Health Network’s belief that consumers will be better able to achieve financial health if they have access to innovative credit products that are safe, affordable, and of high quality, enabling them to manage their day-to-day finances, weather financial shocks, and pursue longterm opportunities.

Why the Center for Financial Services Innovation cares about a Universal Basic Income

By Rachel Schneider & Jennifer Tescher, Financial Health Network Sometimes, complex problems demand simple solutions. According to Financial Health Network’s research, 57% of Americans are financially unhealthy. The Pew Charitable Trust found that over 70% of Americans are income limited, savings constrained or debt challenged, and a third of Americans experience two or even three…

Announcing 7 Companies Measuring Financial Health

The Financial Health Network’s Financial Health Beta Project is an initiative designed to help providers invest in their customers’ financial health. From June to December 2016, participating companies will use the Financial Health Network’s 8 financial health indicators to measure and track their customers’ financial health.

2016 Prepaid Industry Scorecard

With millions depending on prepaid cards to help manage their financial lives and forthcoming CFPB regulations, it is important to gauge the quality of products in the marketplace and to encourage prepaid card issuers to develop offerings that actively improve consumers’ financial health.