This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school ﬁnancial education on the ﬁnancial well-being of young adults. Financial well-being includes people’s subjective sense of ﬁnancial management, as well as their conﬁdence in achieving their unique ﬁnancial goals. This study shows that ﬁnancial education improves ﬁnancial well-being, though beneﬁts accrue primarily to men and those who obtain college degrees.
With the support of a grant from the FINRA Investor Education Foundation researchers, J. Michael Collins and Carly Urban, conducted a study that examines the financial well-being of young adults through the lens of gender and educational attainment. Using the CFPB’s Financial Well-Being Scale, the research contrasts the financial well-being of men and women among college graduates and high school only graduates.
On July 30th, 2019, AFN presented it’s Ask the Author with Hallie Leinhardt, Center for Financial Security sharing on findings revealed from the 2019 Financial Coaching Census.
After 3 waves of coaching censuses between 2015-2019, we know a lot about the coaching field, and we’re excited to share the trends and their implications.
We discussed webinar to find out what these trends mean and what is called for moving forward:
- How has the field evolved over time?
- What are the primary financial coaching outcomes measures?
- What are the persistent challenges in the field?
CFS Research Fellow and Professor of Economics at the University of Connecticut, Stephen Ross, along with his co-authors Weiran Huang of the Department of Finance in NYC and Ashlyn Nelson from Indiana University Bloomington, have released a working paper and policy brief that examine the spillover effects of foreclosure within broad neighborhoods.
In their recently published Housing Policy Debate article, co-authors Stephen Ross and Marsha Courchane present an overview of the research on discrimination in mortgage underwriting and pricing, the experiences of minority borrowers both prior to and during the financial crisis, and federal efforts to mitigate foreclosures during the crisis. They discuss the history of legal cases alleging disparate treatment of minority borrowers, and recent cases alleging disparate impact in the wake of the Supreme Court’s Inclusive Communities decision. Using these discussions as a background, Ross and Courchane examine and discuss mortgage regulations issued by the Consumer Financial Protection Bureau following the financial crisis, describe recent developments in the FinTech industry and explore the implications for fair lending policy and minority borrowers more generally. The authors draw conclusions and make recommendations for improving the mortgage market outcomes of minority borrowers and increasing minority borrowers’ access to credit.