Financial lives have changed. Financial advice, policies and products should too. See the infographic by the U.S. Financial Diaries.

The Financial Health Network is submitting this letter in response to the request for comment by the Consumer Financial Protection Bureau on May 24, 2012.

Although underbanked consumers in the U.S. often have insufficient access to financial services, their access to mobile phones is fairly widespread.

In 2010, the Financial Health Network launched its largest effort yet to catalog all existing financial products and services aimed at the underbanked population: the Underbanked Industry Scan.

Read findings from the Center for Financial Services Innovation's (CFSI) study into consumer needs, behaviors, and perceptions around secured credit card products.