Financial Services and Education Project

..."The nation needs to face up to both the immediate and the structural changes that are needed to cushion the impact of the current crisis for homeowners, communities and the nation; to learn from the lessons of this crisis to improve our housing policy, especially by enhancing the supply of quality, well-located affordable rental housing; and to take the regulatory steps to prevent a similar wealth-stripping crisis from happening again," said Ellen Seidman, a former Clinton administration official who directs the Financial Services and Education Project at… more

..."Demos's report is timely, cogent, readable and persuasive," said Ellen Seidman, a Clinton administration alum who currently directs the Financial Services and Education Project at the New America Foundation. "The nation needs to face up to both the immediate and the structural changes that are needed to cushion the impact of the current crisis for homeowners, communities and the nation; to learn from the lessons of this crisis to improve our housing policy, especially by enhancing the supply of quality,… more

The presentation is available below in Microsoft Powerpoint format.

In the Feb. 20 issue of Paybefore Update, my colleague, Melissa Koide, discussed a proposal to use prepaid cards to deliver tax refunds through a unique alliance of government and industry, Viewpoints: A Convergence of Opportunities: Delivering Prepaid Accounts at Tax Time (February 2008). We believe the prepaid sector can and should play a major role in working with government to provide an "assets and transactions account" (ATA), a low-cost, high-value transaction account that facilitates savings for… more

On Wednesday, May 14, 2008, Sen. Charles E. Schumer (D-NY) convened a Joint Economic Committee (JEC) hearing to examine the current systemic risk in the U.S. financial system and the possible government and private sector solutions to protect the economy against those ongoing risks. Entitled, “Wall Street to Main Street: Is the Credit Crisis Over and What Can the Federal Government Do to Prevent Unnecessary Systemic Risk in the Future?” the JEC heard testimony from Ms. Seidman, former Chairman of the… more

The presentation is available below in Microsoft Powerpoint format.

Families across America face a growing array of financial decisions in an increasingly complex financial environment. Consumers are expected to navigate an increasinly complex financial services market in order to save for retirement, higher education and homeownership. Those with low-incomes -- who disproportionately lack both financial know-how and relationships with financial institutions -- are especially vulnerable to being shut out of the financial marketplace. On Thursday, April 17th, Ellen Seidman, Director of New America's Financial Services and Education Project,… more

(Sacramento, California, 04/02/08)-- Today, at his First Annual Financial Literacy Fair, California State Controller John Chiang joined by Assembly Members Ted Lieu (D-Carson), Ted Gaines (R-Roseville), Martin Garrick (R-Carlsbad), Roger Niello (R-Sacramento), reinforced his commitment to advance a statewide financial literacy initiative that promotes access to economic opportunity amongst all Californian consumers.

"We commend the Controller's attention to what is a very important and often unaddressed need, consumer financial education," said Olivia Calderon, California Legislative Director of New America's Asset… more

Today's complex financial marketplace makes it increasingly difficult for individuals to understand and navigate the array of products and services available from a variety of financial service providers. For low to middle income individuals who have fewer financial resources to begin with, a solid grounding in personal finance and a clear understanding of the options and implications of one's financial decisions are all the more critical.

While there is a wide range of financial education curricula available, there is a… more

Yesterday the White House launched a new Financial Literacy Volunteer Initiative to help connect struggling homeowners with financial counselors and to provide financial education at-large through a nationwide volunteer corps. New America Foundation's Asset Building Program has long called for the creation of a national Financial Services Corps and has made the idea a central component of its financial education policy agenda at both the federal and state level.

The announcement by the White House is… more