Workplace Financial Health Innovation: Rolling Out Credit- and Debt-Related Benefits for Your Employees
As many employees struggle with unmanageable debt, employers can make a difference by providing credit- and debt-related financial wellness solutions. Here are fiscal, legal, and regulatory considerations for businesses to keep in mind as they develop offerings to help employees manage debt, build credit, and improve their financial health.
Workplace Financial Health Innovation: Rolling Out an Earned Wage Access Program for Your Employees
Employers, benefits platforms, regulators, and employees are paying more attention to earned wage access (EWA) products for their potential to improve employee financial health. Employers can maximize the positive outcomes of EWA products by minimizing associated fees, explaining the program mechanics to employees, and providing a complementary suite of financial resources.
2017 Payroll Industry Scorecard
The Financial Health Network offers its first quality assessment of the payroll card industry.
The Financial Health Network Comment Letter on Evaluating Charter Applications from Financial Technology Companies
In this letter, the Financial Health Network supports the OCC’s leadership in encouraging innovation that can improve the lives and financial health of consumers and small businesses.
Financial Health and Community College Students
Understanding the three prominent financial health challenges that community college students face and how those students can improve their financial health through choosing and using quality products and services.
Compass Principles: Transaction Product Examples
This one-pager gives examples of applying the Compass Principles to transaction products.
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.
A Snapshot of Quality and Innovation Among Small-Dollar Credit Installment Lenders
Millions of Americans lack access to high-quality, affordable credit. While innovating in the small-dollar credit industry poses challenges, the opportunity to serve borrowers in need of high-quality, small-dollar loans is significant.
The Compass Guide to Payroll Cards
The Compass Guide to Payroll Cards defines industry-wide best practices for the design and delivery of payroll cards.
One-Page Overview of the Compass Principles
To help the industry take the lead in addressing these challenges and build trust with the public, the Center for Financial Services Innovation, in partnership with a cross-section of industry participants, created the Compass Principles.
Compass Principles – Guiding Excellence in Financial Services
The Compass Principles are guidelines for the U.S. financial services industry. They affirm standards of excellence in the design and delivery of basic tools that people use to manage their daily financial lives.
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.