Savings

The High Cost of Being Poor I: Editor's Note

by

Rod Watson and Jonathan D. Epstein

This article, the first in a series by the Buffalo News based on a five-month investigation, documents the high financial costs borne by the underbanked. The article also documents Buffalo residents' myriad reasons for not opening bank accounts.
Published in Buffalo News (Buffalo, NY) on . Posted: June 18, 2006

A Telling Level of Interest in Underbanked

by

Ben Jackson

Attendees at CFSI/SourceMedia's first annual Underbanked Financial Services Forum found new ideas and inspiration for reaching the segment. The conference drew 400 attendees from banks, credit unions, alternative providers, and government, among others.
Published in American Banker on . Posted: June 16, 2006

Unbanked: Why Some Say the Time is Now

by

H. Michael Jalili

More than four hundred people will attend the Underbanked Financial Services Forum, produced by Source Media and CFSI. Interest in the underserved market has been propelled by greater understanding of the size and needs of this segment by financial institutions, and by ...
Published in American Banker on . Posted: June 7, 2006

Financial Access for Immigrants: Lessons from Diverse Perspectives

by

Anna Paulsen, et al.

This report, coauthored by the Federal Reserve Bank of Chicago and the Brookings Institution, summarizes the conclusions of various conference and research projects related to financial access for immigrants. Topics include an analysis of the current financial practices of immigrants, an industry ...
Published in Federal Reserve Bank of Chicago/Brookings Institution on . Posted: June 1, 2006

The Changing World of Retail Financial Services

by

Ellen Seidman

This Powerpoint presentation provides a broad overview of banking issues related to low-income populations and the unbanked. The report provides a wealth of demographic data and outlines the issues of banking with regard to this population.
35 pp.   
Published in CFSI on . Posted: March 31, 2006

A new way to help California's poor

by

Anne Stuhldreher

California is exploring new ways of helping the 29% of its population considered asset poor to build savings and assets. Such programs include the such as matching 2-to-1 on every $1 being saved for particular investments such as buying a home or ...
2 pp.   
Published in The San Diego Union Tribune on . Posted: February 3, 2006

Beyond Remittances: What Tactics Work

by

Lindenmayer, Isabe

This article discusses the growing use of hybrid-business models in reaching out to the unbanked community. Businesses that combine non-traditional financial services, especially check cashing, with traditional banking products and are making headway in penetrating the unbanked market. Among the successful combinations ...
4 pp.   
Published in American Banker on . Posted: December 16, 2005

2005 Credit Card Survey

by

Consumer Action News

The credit card study by Consumer Action outlines the top reasons "that lead banks to impose high universal default and penalty rates. According to CA's Linda Sherry, who coordinated the survey, 'The factors cited by card issuers are very broad. It appears ...
12 pp.   
Posted: August 2005

Retirement Security for Latinos: Bolstering Coverage, Savings and Adequacy

by

Peter R. Orszag and Eric Rodriguez

This is a study of Latino retirement savings patterns by the Pew Charitable Trust's Retirement Security Project and the National Council of La Raza. The study shows that Hispanics in the United States lag the general population in accumulating retirement savings. The ...
26 pp.   
Posted: August 2005

The National Taxpayer Advocate's Fiscal Year 2006 Objectives Report to Congress

by

Nina E. Olson, National Taxpayer Advocate

The National Taxpayer Advocate's report urges the IRS to focus on ways to increase voluntary compliance among taxpayers, as voluntary compliance is central to the operations of the IRS. "The report identifies four areas of particular emphasis in FY 2006:" Private debt ...
232 pp.   
Posted: July 2005

Unbanked to Homeowner

by

Jennifer Tescher

Unbanked to Homeowner: Improving the Supply of Financial Services for Low-Income, Low-Asset Customers

The research that laid the foundation for CFSI argues that the interests of the financial services industry and low-income consumers are converging. The paper also presents evidence that this development ...

32 pp.   
Posted: July 2005

Credit Where It Counts: Maintaining a Strong Community Reinvestment Act

by

Michael S. Barr (The Brookings Institution)

"The Community Reinvestment Act (CRA) has helped to revitalize low- and moderate income communities and provided expanded opportunities for low- and moderateincome households. Recent regulatory steps aimed at alleviating burdens on banks and thrifts are unwarranted, and may diminish small business lending ...
8 pp.   
Posted: June 2005

Assets and Opportunity Scorecard

by

CFED

"The Scorecard measures the financial security of families in the U.S., ranking the 50 states and the District of Columbia on 31 performance and 38 policy measures in the areas of Financial Security, Business Development, Homeownership, Health Care, Educa
Published in CFED on . Posted: June 2005

Integrating the Poor into the Mainstream Financial System: The BANSEFI and SAGARPA Programs in Mexico

by

Lisa Taber, with Carlos Cuevas and input from Juan Navarrete and Gabriela Zapata

Discusses the lessons and impacts of the Mexican government's Savings and Credit Sector Strengthening Program, implemented by the National Savings and Financial Services Bank (BANSEFI) and Rural Microfinance Technical Assistance Project (or PATMIR in Spanish), implemented by the Secretariat of Agriculture, Livestock, ...
15 pp.   
Posted: January 2005

Rural Finance: Savings Mobilization Potential and Deposit Instruments in Marginal Areas in Mexico

by

Carlos E. Cuevas and Pilar Campos (World Bank)

Discusses the challenges of providing financial services in rural Mexico based on a study of households in the relevant areas.
14 pp.   
Posted: January 2005