Financial Services and Education Project

Presentation to the National Community Tax Coalition Conference. October 2, 2007; Denver, CO.

 

 

Presentation delivered at the Asset Funders Network meeting in San Francisco.

 

Presentation available below.

The current -- and predicted future -- turmoil in the mortgage market highlights an important challenge to the American dream of homeownership: how to make certain that those who enter into homeownership are able to sustain that status, protecting family stability and building equity in a critical asset. Thirty years ago, those who owned homes had fixed rate mortgages and substantial equity, and foreclosure was a rare event. However, many Americans were denied the opportunity to… more

Account ownership and financial knowledge are understood to be critical components of financial stability and wealth accumulation. Presumably, combining financial education and accounts reinforces the positive effects of each on the other and enhances the recipient’s financial well being. To date, however, no testing of this hypothesis has been undertaken. This report sets out to do that. It presents a review of programs across the country that combine account ownership with financial education to analyze their… more

We don’t talk much at this event about housing, homeownership and mortgages, mainly on the theory that there are plenty of other conferences covering those topics. But these topics are in fact central to the ultimate ability of the vast majority of underbanked consumers to build and maintain financial stability. So I’d like to use the on-going difficulties in the sub-prime mortgage market to explore the concepts of balance and sustainability in providing financial services for those we… more

On March 21 and 22, 2007, the Financial Services and Education Project of the Asset Building Program at the New America Foundation hosted a roundtable discussion among a diverse group of people with expertise in financial education.  The group included academics from a variety of disciplines, those involved in providing financial education for both youth and adults, representatives of financial institutions, and others interested in the topic.  This paper briefly summarizes two days of rich discussions.  In the near future,… more

Increasing troubles in the sub-prime mortgage market, growing concerns about student debt loads, and two new movies and an awareness campaign highlighting the burden of credit card debt are focusing attention on the fact that debt is causing major disruptions in the lives of many families. And yet, it’s the rare family that can build assets—buy a home, start and grow a business, go to college, buy the car that is essential for getting to work—without credit. … more

A presentation to the National Community Reinvestment Coalition.

 

Presentation available below.

(WASHINGTON, DC, 12/14/06)— In response to the growing complexity of financial services, the persistent need for widespread, effective financial education, and the increasing importance of reducing debt and building wealth by millions of low-, moderate- and middle-income Americans, the New America Foundation’s Asset Building Program is establishing the Financial Services and Education Project, with funding from the Ford Foundation.

“To build and retain personal and community assets, Americans must navigate a financial system that is innovative and robust, but complex… more

The Asset Building Program of the New America Foundation recently announced the formation of the Financial Services and Education Project. The purpose of the project is to provide national leadership on policy issues related to: Improving financial education; Expanding access to mainstream financial services;