The Financial Health Network Comment Letter on Proposed Guidance for Third-Party Lending
The Financial Health Network is submitting this letter in response to the request for comments on the “Proposed Guidance for Third-Party Lending” issued by the Federal Deposit Insurance Corporation (FDIC) and published on July 29, 2016.
#FinHealthMatters: Know Money
By Steven M. Hughes LET’S REWIND. I’m a freshman in college, hungry for food and new experiences as I’m walking across the library bridge. From one end to the other are tables filled with coupons for free pizza, subs and credit cards (one of these things are not like the others). Shortly after all the…
Financial Solutions Lab Snapshot: Innovations in Helping Consumers Weather Financial Shocks
Over the last year, more than 100 million American households experienced a financial shock. This year the Financial Solutions Lab’s second $3 million challenge was seeking solutions that could help Americans to weather such shocks.
#FinHealthMatters: Saidia Financial Solutions
By Tai Stewart Ever since I can remember, my dad was always the financial manager in our household. He knew how to support 8 kids and a wife on less than $40,000, and we didn’t lack any basic necessities. As the eldest child, I was the recipient of most of the financial lessons since I…
That Moment You Measure What Matters
How to Value the True Cost of a Loan How should we measure the true value of a loan on consumers’ lives? Lower blood pressure, for the anxiety and stress saved? The dollar amount of an additional payday, because someone could afford to repair the car and get to work? The quality of life achieved…
Re-Defining an Awards Strategy: Opportunity Finance Network
By Financial Health Network Consulting Putting Low-Income Consumers First With the Help of Financial Health Network’s Knowledge More than 68 million low-income Americans don’t get the financial services they need. It’s this market gap that prompted the Opportunity Finance Network (OFN), a network of community development financial institutions to turn to the Center for Financial…
That Moment Your Research Breaks Through
What financial providers need to know about young adults. What if we reached young people at the moment they’re primed to to absorb financial education — a moment like their first paycheck? What if we used that moment to capture people’s attention, and we allow them to open that account to help get started? MyPath, a San…
Executive Summary: Eight Ways to Measure Financial Health
The Financial Health Network has developed eight indicators to measure financial health. We believe that these indicators establish a framework for shifting the financial services industry towards a focus on financial health, a focus on improving consumers’ lives.
“VITA Credit Builder” by Mission Economic Development Agency
In 2010, Mission Economic Development Agency (MEDA) launched its Volunteer Income Tax Assistance (VITA) Credit Builder program with the primary goal to establish or improve credit for low-income Latino immigrants and help them responsibly manage credit over the long term.
U.S. Financial Diaries: Savings Horizons
U.S. Financial Diaries: Savings plays a central role in conversations about American household finance. Surveys suggest that few American households save enough for retirement, nor are Americans adequately prepared for emergencies
The Financial Health Network Comment Letter on the CFPB’s Proposed Rules on Prepaid Cards
The Financial Health Network’s letter to the CFPB focuses on four main areas, each framed around what is best to achieve the overall goal of consumer financial protections that support financial health:
Sandra Young Household Profile: Budgeting For A Year With Lumpy Income
U.S. Financial Diaries Case study: Sandra Young, 52, is an African American woman living in Brooklyn with her grown children: Tyler, 25, and Kayla, 24.
Elena Navarro Household Profile: Getting Through A Tough Year
U.S. Financial Diaries Case study: Elena Navarro is a single, 27-year-old woman living outside of San Jose, CA.
Press Release: Financial Services Companies Pursuing Quality, Testing Innovative Small-Dollar Credit Products
New Research Highlights Consumer Preferences for Key Product Features Chicago, IL – (June 3, 2014) – Today, the Financial Health Network announced the creation of the Small-Dollar Credit Test & Learn Working Group. Five leading financial services providers—Regions Bank, LexisNexis Risk Solutions, Kinecta Federal Credit Union, Enova International and Emerge Financial Wellness—are piloting small-dollar credit […]
The Compass Guide to Small-Dollar Credit
Millions of Americans do not have access to small-dollar credit or only have access to high-cost, low quality small-dollar credit products that too often lead them into a cycle of repeat usage and mounting debt.
Financial Capability Innovation Funds
Learn about the eight financial projects chosen by the Center for Financial Services Innovation (CFSI) to receive grants through the 2012 Financial Capability Innovation Fund II.
Prepaid Industry Scorecard: Assessing Quality in the Prepaid Industry with the Financial Health Network’s Compass Principles
Over the past decade, millions of American households have turned to prepaid cards to spend, save, and manage their money.
Know Your Borrower – The Four Need Cases of Small-Dollar Credit Consumers
An increasing number of Americans are turning to nontraditional credit sources for quick access to cash.
The U.S. Financial Diaries Methodology: The financial lives of low-income Americans
The U.S. Financial Diaries (USFD) is a research study collecting detailed financial data from more than 200 low- and moderate-income households over the course of a year.
Financial Technology Trends in the Underbanked Market
The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base.
Centris: Using Technology to Build Relationships
Centris Federal Credit Union believes serving underserved consumers doesn’t just make good business sense, but is integral to its heritage and mission.
Justine PETERSEN Case Study
This case study explores Justine PETERSEN. As a leader in microenterprise development and credit building, Justine PETERSEN emphasizes credit building as an empowering asset.
The Compass Guide to Prepaid
The Compass Guide to Prepaid defines industry-wide best practices for the design and delivery of GPR prepaid card accounts.
Improving Consumer Outcomes Through Better Disclosure for Prepaid Cards
Increasingly, underserved Americans are turning to prepaid cards to meet their basic financial services needs.
Making the Shift from Financial Education to Financial Capability
The need for new ideas to improve Americans’ financial capability has been evident throughout the recent recession.
The Financial Health Network Third Secured Credit Cards InBrief
The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.