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.
Browsing: Financial wellness
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.
Six tips banks can share with consumers as a starting point for helping them organize their finances.