The Financial Health Network submitted its response to the CFPB’s request for information regarding use of alternative data and modeling techniques in the credit process on February 16, 2017. In the letter, the Financial Health Network acknowledges that the use of alternative data in the credit process poses both risks and benefits to consumers. The letter also states the Financial Health Network’s belief that consumers will be better able to achieve financial health if they have access to innovative credit products that are safe, affordable, and of high quality, enabling them to manage their day-to-day finances, weather financial shocks, and pursue longterm opportunities.

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.

The Financial Health Network submitted its response to the CFPB’s Request for Information Regarding Consumer Access to Financial Records. In the letter, the Financial Health Network describes how companies should design data-sharing partnerships to support consumer choice and innovation. The letter also urges the CFPB to support the industry’s efforts to develop solutions by affirming consumers’ right to access their financial data through principles-based guidance.

The Financial Health Network is submitting this letter in response to the request for comments on “Exploring Special Purpose National Bank Charters for Fintech Companies,” issued by the Office of the Comptroller of the Currency (OCC) and published on December 2, 2016.

Financial technology (“fintech”) has tremendous potential – as a delivery channel for high-quality products and services – to help consumers improve their financial health.

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.

Over the last two decades, the emergence of new intermediaries that aggregate data from numerous sources has enabled financial services providers of all kinds to provide consumers with a more complete view of their financial lives. – See more at: http://cfsinnovation.org/research/consumer-data-sharing-principles-a-brief-on-the-framework-for-industry-wide-collaboration/#sthash.oYX1cTQi.dpuf

Over the last two decades, the emergence of new intermediaries that aggregate data from numerous sources has enabled financial services providers of all kinds to provide consumers with a more complete view of their financial lives.

The Financial Health Network is submitting this letter in response to the request for comments on “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” issued by the Consumer Financial Protection Bureau (CFPB) and published on July 22, 2016.

Earlier this year, the Financial Health Network worked in partnership with Visa to explore challenges and innovation within the secured credit card market.

The Financial Health Network is submitting this letter in response to the request for comments on “Mobile Financial Services Strategies,” issued by the Federal Deposit Insurance Corporation (FDIC) and published on May 3, 2016.

The Financial Health Network recognizes the important role that access to high-quality financial products plays in helping consumers improve and maintain their financial health.

This paper takes an in-depth look at new consumer research on secured credit cards. In it, we explore how innovation in secured credit cards can help consumers build credit and savings at the same time.

This executive summary examines new consumer research on secured credit cards.

With the Financial Solutions Lab, the Financial Health Network and JPMorgan Chase are bringing innovators, industry players, researchers, and bank executives to the table to make technology part of the financial health equation.

The 2016 Challenge topic of the Financial Solutions Lab is Helping Americans Weather Financial Shocks. This issue brief introduces the topic, the reasons it is an important problem to solve, and some innovative approaches to doing so.

We can educate consumers and provide access to financial products and services. But how do we help consumers use their knowledge and tools to improve their financial behavior and become financially healthy?

Despite strong member satisfaction and negative consumer sentiment towards banks, credit unions’ market share of key profit drivers like mortgages and credit cards is in the single digits.

Can a workplace financial counseling program leverage mobile tools to boost the financial health of low-and-moderate income employees?

Discover eight learnings that the Center for Financial Services Innovation (CFSI) has gathered while helping more than 100 financial institutions engage more meaningfully with their customers.

MyBudgetCoach (MyBC), operated and distributed by Solutions for Progress (SfP), is an online platform designed to complement and enhance existing financial coaching programs.

MyPath partners with workforce development programs and financial institutions to help young adults improve their financial health.

New research reveals just how much money financially underserved consumers spend on financial products and services. The latest data shows that in 2014, consumers spent $138 billion to simply manage their financial lives.

Moneythink pairs college student mentors with high school student mentees to provide coaching on sound financial management.

Millions of Americans are raising children in households with poor family financial health and limited financial resources.

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.

Piggymojo built an online and mobile tool that uses goal visualization, social sharing and mobile technology to help savers turn impulse buys into “impulse saves.”

Millions of Americans lack access to high-quality, affordable credit. Many of the small-dollar loans available to consumers are high-cost, low-quality products that often lead borrowers into a cycle of repeat usage and mounting debt.