News & Analysis as of

Financial Literacy

CFPB Announces Shift in Fair Lending Focus for 2017

by Goodwin on

On December 16, 2016, the fair lending team at the Consumer Financial Protection Bureau (CFPB) announced the markets that it would closely monitor in 2017. These new monitoring priorities are part of the general priority...more

CFPB issues fourth Financial Literacy Annual Report

by Ballard Spahr LLP on

The CFPB has issued its fourth Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities to improve consumer financial literacy during the period from October 2015 through September 2016. The...more

CFPB issues report on achieving youth financial capability

by Ballard Spahr LLP on

The CFPB has issued a report that describes a new “developmentally informed, skills-based model” for helping youth achieve financial capability. Entitled “Building blocks to help youth achieve financial capability,” the...more

FINRA Study of Financial Literacy: Many Investors May Not Have It

In July 2016, FINRA’s Investor Education Foundation released the findings from its National Financial Capability Study. The study suggests that, while in some ways Americans have increased their financial literacy, too...more

CFPB issues scale to measure financial well-being

by Ballard Spahr LLP on

Last week, the CFPB released “A guide to using the CFPB Financial Well-Being Scale.” The guide builds on a report issued by the CFPB in January 2015, “Financial well-being: The goal of financial education,” in which it...more

Parliament publishes structure Bill amendments

by Dentons on

Amendments to the Bank of England and Financial Services Bill to be discussed at the Report stage in the House of Lords have been published. These include an amendment to...more

Financial Literacy Highlighted in Director Cordray’s remarks to the American Bankers Association

by Ballard Spahr LLP on

Financial literacy was the focus of Director Richard Cordray’s remarks last week at the American Bankers Association Annual Convention. He identified three areas where the CFPB is focusing its efforts and where financial...more

CFPB plans national survey on financial well-being

by Ballard Spahr LLP on

The CFPB has published a notice in the Federal Register indicating that it is planning to conduct a “Financial Well-Being National Survey.” In the notice, the CFPB states that through its prior research, it has determined...more

CFPB issues third Financial Literacy Annual Report

by Ballard Spahr LLP on

The CFPB has issued its third Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities to improve consumer financial literacy during the period from June 2014 through September 2015. The report’s...more

CFPB announces plans to launch financial coaching project

by Ballard Spahr LLP on

In a notice published in today’s Federal Register, the CFPB announced that in late 2014, it plans to launch a financial coaching project for transitioning veterans and economically vulnerable consumers and seeks comments to...more

Cordray emphasizes federal and local government cooperation on financial literacy

by Ballard Spahr LLP on

Director Cordray spoke at the Financial Literacy and Education Commission (FLEC) Field Hearing this week, emphasizing the federal government’s role as the nation’s single largest employer. In order to lead by example,...more

Director Cordray calls for public and private sector businesses and organizations to help employees with their financial lives

by Ballard Spahr LLP on

On February 25, the Financial Literacy and Education Commission (FLEC) held a field hearing as part of America Saves Week to discuss financial education in the workplace, including how to deliver financial education to...more

CFPB proposes information collection on financial well-being

by Ballard Spahr LLP on

The CFPB has issued a proposal to conduct a new information collection titled “Development of Metrics to Measure Financial Well-being of Working-age and Older American Consumers.”...more

CFPB issues first Financial Literacy Annual Report

by Ballard Spahr LLP on

The CFPB has issued its first Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities and strategies to improve consumer financial literacy during the period from July 21, 2011 through June 15,...more

"Money Smart for Older Adults" Provides Valuable Information for All Consumers

by Foley & Lardner LLP on

On June 12 the Federal Deposit Insurance Corporation (“FDIC”) and Consumer financial Protection Bureau (“CFPB”) jointly launched a new financial resource tool, “Money Smart for Older Adults”, with the goal of helping older...more

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