Explore the federal framework governing consumer financial data in the United States and learn the critical questions arising from our changing financial data ecosystem.
Recent regulatory developments have opened opportunities for lenders – particularly banks – to offer small-dollar credit. Data shows that investing in customers’ financial health results in greater long-term loyalty and profitability. In this brief for financial institutions and other lenders, the Financial Health Network offers a series of recommendations for supporting the short and long-term financial wellness of small-dollar credit customers.
Provided by doxo, this research exposes the $577 in hidden costs the average American household pays per year, as well as Americans' top concerns about managing and paying their bills.
Some of the most popular financial health tools introduced by fintechs actually replicate and automate habits and “life hacks” that many households used successfully before the era of electronic banking and payments. These digital “retronovations” bode well for banks and credit unions seeking to offer services that help their customers while also bringing subscription revenues that lessen institutions’ dependence on penalty fees.
These case studies highlight our measurement of transactional indicators with three credit unions, enabling them to drive positive impact for their members and their businesses.
In this case study, we highlight our evaluation of Nusenda Credit Union’s small-dollar lending program, highlighting the positive impact on its participants and the business.
The Financial Health Network wrote this response to the CFPB’s decision to rescind the mandatory underwriting requirements of 2017 Payday, Vehicle Title, and Certain High-Cost Installment Loan Rule (Payday Rule).
Provided by TransUnion, this research examines the financial effects of the coronavirus pandemic, providing essential and timely insights into how consumers have fared.
Provided by CRF USA, this research introduces the Connect2Capital community, designed to level the playing field for small business owners seeking capital from a responsible lender.
Provided by Principal Foundation, this research reveals findings about the financial struggles of people ages 15-36 living in the United States, with a focus on low- to moderate-income individuals.
By Laura Cummings, Director, Financial Health Network Amazon’s new Credit Builder secured card has ignited debate and dialogue about access to credit and the role secured cards can play in helping or harming consumers. We often hear about the millions of Americans who are deep in credit card debt, which points to the downside of…
By Corey Stone, Entrepreneur in Residence, Financial Health Network The Sears Catalog was the Amazon of its time, containing just about everything one might want. In its heyday, large ticket items came with a monthly price and term for those who needed or wanted to pay for their purchases over time. Beginning in 1892, the…