Despite the vast data collected by our government, we lack an accepted method of assessing financial health. Learn why we must measure not only each household’s annual income but also its annual spending, saving, borrowing, and planning habits to identify communities whose financial health is poor, deteriorating, or failing to keep pace with overall improvements.
Watch this on-demand group discussion led by Financial Health Network’s Senior Advisor David Silberman about measuring financial health using demographic information without regulatory standards.
In this session, we will explore ways that financial institutions, policymakers, and industry leaders can come together to better support Americans relying on the social safety net, both today and in the future.
Learn how consumers are using Earned Wage Access (EWA) and Direct-to-Consumer (D2C) Advance products to bridge gaps between earning and accessing income, gain data-driven insights to guide key decisions in a showcase of findings from our recent consumer usage research, and discuss the ongoing policy debate.
Amid the pandemic, a ceiling on payday loans extends … state by state. Read the Article >>
In this research, Plaid examines how consumers use fintech, how they feel about it, how it impacts their lives, and how all these sentiments vary across demographic groups.
Over 6% of Americans—20.5 million people—are unbanked, according to the FDIC’s latest data, meaning they have no checking or savings account. Nearly 50 million more are underbanked: They have at least one bank account but still use alternative financial services like payday loans and check cashers outside the banking system. Read the Article >>
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).
In this conversation with FDIC Chairman Jelena McWilliams and Acting Comptroller of the Currency Brian Brooks we re-examine the role of regulation and explore what changes are needed to ensure Americans’ financial health is sufficiently supported by public policy.
The Financial Health Network wrote this Policy Perspective that draws on our past small-dollar credit work to inform the conversation around recent regulatory actions.
The Financial Health Network submitted these comments to the CFPB Taskforce on Consumer Financial Law in response to a Request for Information on a broad range of consumer protection issues.