Webinar: What Motivates Consumers to Check their Credit?: Evidence from a Field Experiment

Most consumers do not obtain their annual credit report or participate in credit monitoring offered by credit reporting agencies and financial institutions. In 2010, only about 16 million American consumers checked their credit for free through one of the big three credit bureaus. Many possess inaccurate beliefs about their creditworthiness despite the availability of free credit checks. Financial decisions made with inaccurate credit information may be costly for consumers, harm their ability to borrow in the future, and, ultimately, diminish financial well-being. This study builds on a growing literature on reminder effects. Using a field experiment with a credit union in the United States, the effect of email reminders on credit checks is analyzed. The results from the study reveal that reminders are largely ineffective in encouraging consumers to check their credit.
In this October 23rd webinar, researcher Madelaine L’Esperance provides background on the study followed by presentations from the practice and policy perspectives.

Webinar: CFS Presents “The Effects of Access to Banking Services on Elementary Students’ Financial Learning: A Field Study”

The Center for Financial Security held a webinar on April 24, 2018, which explored findings from a field study examining the effects of access to financial services on elementary students’ financial learning. The field study describes two school-based savings programs targeted to elementary-age students. Using differential access to school branches, as well as randomized seed deposits for opening an account, researchers were able to estimate the effects of students having savings accounts on changes in financial knowledge and behavior.

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