As the population of older Americans continues to grow—and with seniors increasingly the targets of scams—a majority of banks are responding by offering training for frontline staff on how to prevent elder financial exploitation, according to the ABA Foundation’s second Older Americans Benchmarking Report released today.
Browsing: Financial wellness
Just 29% of Americans—approximately 73 million people—are financially healthy, according to the Financial Health Network’s Financial Health Pulse report released today.
The Consumer Financial Protection Bureau today issued a report providing state-by-state scores of financial well-being among consumers.
More than 6,000 bankers will deliver financial education lessons to nearly 156,000 teens nationwide this year as part of ABA’s Get Smart About Credit initiative, which is sponsored by Ally Financial, Citi, U.S. Bank and Wells Fargo.
The disconnect between consumers’ self-perceptions and the reality of their financial health is striking, and suggests that financial services need to be doing something different. Findings from a recent Ernst and Young study—infused with insights from behavioral economics—point toward an exciting new path forward.
Remember when checking your balance online was new and novel? The advent of the internet and online banking permanently changed the way consumers conduct their banking activities and interact with their financial institutions.
The FDIC is actively looking for ways to enable banks to offer small-dollar loans, FDIC Chairman Jelena McWilliams said today at a Cato Institute event, drawing an important link between the availability of these products and financial inclusion.
Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.