Empowering low income and economically vulnerable consumers
Over the last decade, initiatives to enhance the financial stability of the economically vulnerable population have multiplied and shown promise. But there is as of yet no strategy on a national scale that addresses the unique consumer financial product and service needs of low-income and economically vulnerable consumers. As a step toward helping to formulate this strategy and its implementation, the CFPB’s Office of Financial Empowerment hosted a national convening in Washington, DC on November 28-29, 2012. The plenaries and working sessions framed three themes: access to financial services and products, measurement of program outcomes, and pathways to scale.