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"The resolution of a large complex financial organization (LCFO) presents numerous problems, including organizational complexity, opacity of positions, and conflicting legal jurisdictions. Of particular concern is the potential impact of large derivatives books. Widespread adoption of laws...
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As part of The Saint Paul Foundation’s Credit Card Project, three credit card issuers conducted randomized tests of … whether offering online credit card education to credit cardholders is effective in changing behavior. The targeted … college students. Completion of online credit education correlates with more responsible credit card usage, but the …
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performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required “high … of and demand for credit in the treated areas. Controlling for the salient characteristics of the remaining borrowers and … lenders, we find that the ex post default rates among counseled low-FICO-score borrowers were about 4.5 percentage points …
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A critical challenge faced by educators, community leaders and policy makers is to bring financial literacy and consumer education effectively to their constituencies. Based on the qualitative evidence gleaned from focus groups, we take a pragmatic approach in proposing ways to deliver financial...
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Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Federal Reserve Bank of Chicago Chicago, IL
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Using data collected from participants of the FDIC’s Money Smart program, this study investigates the impact that financial education has on an individual’s decision to move from unbanked to banked. To date, most programs and initiatives that target the unbanked define program impact by the...
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