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By Joseph Coleman
Chairman of the Financial Service Centers of America
American Banker, March 6, 2009: Why is the Federal Deposit Insurance Corp. determined to recreate the wheel when it comes to serving the financial needs of low- and moderate-income consumers?
The FDIC's Advisory Committee on Economic Inclusion's most recent meeting highlights many of the challenges and shortcomings associated with the ongoing efforts to convince millions of Americans that they are better served by using banks and other mainstream financial institutions than alternative providers.
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WASHINGTON, July 22, 2008 /PRNewswire-USNewswire/ -- A new report by The Statistical Assessment Service (STATS) at George Mason University finds that media coverage of payday loans reflects an insufficient understanding of interest rates and other financial data. The study concludes that some news reports of stratospheric interest rates in the payday loan industry do not withstand closer scrutiny. The full study is available at: http://www.stats.org/stories/2008/how_bad_payday_loans_july18_08.html (and is included below for your reference) |
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The California Black Chamber of Commerce is announcing a new statewide effort to provide financial literacy education through its local chapters across California. With support from the California Financial Service Providers Association (CFSP), the Chamber will soon be offering a program entitled “Taking Control of Your Finances,” which includes lessons on basic financial services; the importance of saving; managing banking relationships; investing; budgeting; and the responsible use of various types of credit.
Read the entire press release. (93KB PDF) |
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