LA Times: For a day, I was one of the millions of Americans without a bank account. It was humbling
This article written by Los Angeles Times banking and finance reporter James Rufus Koren describes his experience during FinX at EMERGE. Koren recounts what he and other finance professionals learned as they spent a morning in Hollywood experiencing first hand the daily challenges facing the un- and underbanked. Read the article
Press Release: The Center For Financial Services Innovation Announces 2018 Financial Health Leaders
THE CENTER FOR FINANCIAL SERVICES INNOVATION ANNOUNCES 2018 FINANCIAL HEALTH LEADERS Leading consumer financial health network recognizes organizations’ commitment to financial wellness CHICAGO, June 20, 2018 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on consumer financial health, recently announced its 2018 Financial Health Leaders. Financial Health Leaders are organizations within the Financial […]
Leveraging Opportunities to Improve Financial Health
Learn how LendStreet is using new insights into their customers’ financial habits to leverage opportunities for improving financial health.
American Banker: Data Revolution Could Make Lending Better
The Financial Health Network’s Entrepreneur in Residence explains the early stages of a quiet but powerful transformation in how lenders obtain data to make underwriting decisions. He describes how this transformation will have profound effects on consumers’ access to credit, lenders’ business models and how incumbent consumer reporting agencies operate. Read the article.
U.S. Financial Health Pulse Press Release
The Financial Health Network Launches Groundbreaking Survey, U.S. Financial Health Pulse In partnership with the Center for Financial Services Innovation, Omidyar Network, MetLife Foundation, and AARP are investing in an annual benchmarking survey and financial data analysis that will provide recurring insights into the changing nature of Americans’ financial health. The U.S. Financial Health Pulse is a […]
The Financial Health Network Comment Letter on Proposed Amendments to Rules Concerning Prepaid Accounts
The Financial Health Network submitted this letter in response to the request for comment on the proposed Amendments to Rules Concerning Prepaid Accounts, issued by the Consumer Financial Protection Bureau (CFPB, the Bureau) and published on June 29, 2017. Like the CFPB, we recognize the important role that prepaid products and services can play in the financial health of U.S. consumers and we are committed to promoting high-quality financial products. We believe that financial services can be a force for good in people’s lives and that meeting consumers’ needs responsibly is ultimately good for both the consumer and the provider.
Financial Solutions Lab announces 2017 winners
The financial future of America and beyond will be shaped by many of todays fintech innovators, eight of whom were selected as winners of the Financial Solutions Lab’s third annual competition. Run out of the Center for Financial Services Innovation with support from JPMorgan Chase, the Financial Solutions Lab identifies companies that can help Americans […]
What Trump doesn’t understand about the poor
By and large, Americans can find jobs today. But too often those jobs have wild swings in pay. A mechanic, for example, might earn $3,500 one month and then drop to around $1,000 the next, when customers don’t materialize. The working poor and, increasingly, the middle class are in a state of “persistent anxiety” about […]
These Tools Let You Shop Online Without a Credit or Debit Card
Amazon Cash charges no fees to the consumer, PayPal My Cash has a $3.95 activation fee and PayNearMe encourages merchants to absorb the fees, but transactions with some merchants incur a fee that can be as high as $5.99, which is disclosed up front. Ryan Falvey, the managing director for Financial Solutions Lab at the […]
Fintech Apps Bring Stability to Stressed Families
“In the U.S. we don’t really have an access-to-banking problem,” says Jennifer Tescher, president of the Center for Financial Services Innovation, a nonprofit that aims to help the industry better serve low- and moderate-income consumers. After all, 93% of U.S. households have bank accounts, according to the latest Federal Deposit Insurance Corp. data. “The bigger […]
We Tracked Every Dollar 235 U.S. Households Spent for a Year, and Found Widespread Financial Vulnerability
Income inequality in the United States is growing, but the most common economic statistics hide a significant portion of Americans’ financial instability by drawing on annual aggregates of income and spending. Annual numbers can hide fluctuations that determine whether families have trouble paying bills or making important investments at a given moment. The lack of access […]
JPMorgan’s start-up partner was ‘blown away’ by Dimon’s letter
Ryan Falvey knew that the Center for Financial Services Innovation was highly regarded at JPMorgan, but he was shocked to see it so prominently featured in CEO Jamie Dimon’s annual shareholder letter. Read the full article here >>>