CFPB: Project Catalyst Study Finds Savings Offers Double the Number of Consumers Saving
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released the results of a Project Catalyst research project finding that offering a small incentive to prepaid card users to put some of their money into a savings “wallet” doubled uptake of the wallet. The study also found that the consumers who chose to save using…
ABA: Six Banks Honored with Community Commitment Awards
Categories range from affordable housing to community and economic development WASHINGTON — The American Bankers Association Foundation has recognized six banks for their noteworthy corporate social responsibility with a 2016 Community Commitment Award. The awards were given to banks for their efforts in categories ranging from affordable housing to community and economic development. Winners will…
FDIC: Professor Manju Puri Named as Director of Center for Financial Research
The Federal Deposit Insurance Corporation (FDIC) today announced that Professor Manju Puri, Ph.D., will serve as the director of the FDIC’s Center for Financial Research for two years starting October 1. She is currently the J. B. Fuqua Professor, Finance, at the Fuqua School of Business at Duke University. “We are fortunate to have such…
CFPB: 4 Strategies to Help Youth Achieve Financial Capability
Today, we released a report, “Building Blocks to Help Youth Achieve Financial Capability,” which describes how young people acquire the “building blocks” of financial capability to help them navigate the financial marketplace as adults. The building blocks are: 1) executive function, 2) financial habits and norms, and 3) financial knowledge and decision-making skills. These building…
CFPB: Youth Financial Education Initiatives Unveiled
Bureau Releases Report on Teaching Financial Fundamentals and Offers a Tool for Educators Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled new resources for financial educators including Building Blocks to Help Youth Achieve Financial Capability, a report that presents a new financial capability developmental model and makes recommendations for financial education. Based on the developmental…
ABA: Foundation Seeking Hosts for 7th Annual Lights, Camera, Save! Video Contest
Local banks urged to sponsor teen competition WASHINGTON — The American Bankers Association Foundation is urging local banks to participate in its Lights, Camera, Save! video contest. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. Through Lights, Camera, Save!, teen participants will create a…
CFPB: Immigrants Facing Unique Financial Challenges
Immigrants make up a large number of consumers in America, with over 41 million living in the United States. For the subset of immigrants who don’t speak English well, accessing and using financial products and services can be a challenge. Today, the CFPB is releasing a report on financial education programs serving immigrant populations. Language barriers…
CFPB: Money Conversations With Kids Made Easier With CFPB Money As Your Grow Book Club
With our newly launched Money as You Grow book club, you can use children’s books to discuss money concepts through reading, play, and one-on-one talks. Research shows that parents and caregivers have the most influence on their children’s financial capability. If you’re like most parents, you probably recognize this—and you’re interested in setting your kids…
findCRA Announces New Partnership with the Financial Counseling Association of America
findCRA, a Louisville-based online platform focused on social impact and community reinvestment, announced today that they have partnered with the Financial Counseling Association of America (FCAA). FCAA is the largest national association representing both non-profit and for profit financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management and…
findCRA Partners with MoneyIsland to Increase Youth Financial Literacy throughout the United States
To keep the momentum going from National Financial Literacy Month which occurs each April, findCRA a Louisville- based online platform focused on social impact and community reinvestment, announced today that they have partnered with MoneyIsland(TM) a market-leading financial literacy online experience focused on financial education whether it be in the home, school or community group….