How Financial Stress Can Impact the Workforce
Financial stress usually impacts financial health. It matters as financial stress can be devastating for individuals and employers, writes Matt Bahl, vice president, and head of workplace, Financial Health Network. Read the Article >>
Risky Business: Pandemic Underscores How Strong Personal Financial Health Can Build Small Business Resilience
It’s critical that small businesses — especially those in underserved communities — get support from government and philanthropies to rebuild, and that owners also receive personal financial health support so they can build resilience over time and weather future financial shocks.
Building Cross-Sector Partnerships to Advance Financial Health Innovation
The challenges posed by deepening financial insecurity are having a profound and long-term impact on individuals and families, and solutions will require cross-sector collaboration and partnership. To support these solutions, the Financial Solutions Lab intentionally recruited members to its new Advisory Council who bring a vast range of experience and backgrounds, from organizational strategy to […]
It’s the Organizational Siloes, Not Just the IT Stacks, that Are Sidelining Innovation
Since consumers clearly want the personal finance tools developed by fintechs and other innovators, why are banks and credit unions not offering them widely? The core challenge is to get fintech apps to talk with banks’ existing technology stacks and build a shared business case across the organization.
Workplace and Healthcare Leaders Join the Financial Health Network
We’re excited to welcome two experts to the team that will drive workplace and healthcare financial health strategies forward: Matt Bahl and Adrienne White-Faines.
Diverse Compensation Plans Are a Win-Win for All
Despite a recent Gallup poll that found only 55% of Americans reported owning stock, a Rutgers study showed that most Americans report they would prefer to work for a company that gives them a stake in the business. Read the Article >>
It’s Time to Tie Bank Profits to Customers’ Financial Health
America’s current financial system is essentially broken for the many working Americans who live on the edge financially. Mismatched incentives are at the heart of the problem. One has only to look at the sad history of payday and car title loans, subprime mortgages, or bank overdraft “protection” schemes for examples of financial products and […]
Prudential Joins Effort To Fund Fintechs Fighting Inequality
Prudential Financial is dedicating $10 million to fintech oriented towards solving intransigent financial and social inequality in the U.S. Read the Article on Financial Advisor Magazine >>
Have banks, fintechs compete to bring banking services to post offices
Banking services have long been offered national post offices in other countries, making basic account, savings and payment services widely available to populations who might not otherwise have access to them. Read the Article >>
Death Spiral for Consumers
Despite some recent good news about dwindling household debt, the financial health of U.S. consumers is rapidly deteriorating — and families with children are faring the worst. Read the Article >>
COVID Crushing Millennial Finances — What Bankers Need to Know
The Lockdown Recession has given Millennials another major economic smack in the face, bookending the 9/11 attacks and the Great Recession on one side with the pandemic on the other. The coronavirus slump hit just as they were beginning to find their financial feet.
Why Undocumented Workers Deserve to Be Included in the Social Safety Net
Lack of access to the social safety net has consistently hindered pathways to financial health for undocumented immigrants. Expanding eligibility for benefits to undocumented immigrants, during the pandemic and beyond, would increase financial stability for their families and most likely bolster the economy as a whole.