Savings

Asset Building: Wealth Inequality and Occupy Wall Street

November 17, 2011

In this podcast, Reid Cramer, director of the Asset Building Program at New America, describes the new dynamics of inequality that emerged in the wake of the Great Recession and have given rise to the Occupy Wall Street movement. Without dramatic changes to the housing market and policy efforts designed to get families out from under the overhang of debt, significant wealth inequality will persist for years to come. This is particularly apparent when recognizing the staggering growth of the racial wealth gap.

Podcast: Wealth Inequality and Occupy Wall Street

November 17, 2011


In this podcast, Reid Cramer, director of the Asset Building Program at New America, describes the new dynamics of inequality that emerged in the wake of the Great Recession and have given rise to the Occupy Wall Street movement.  Without dramatic changes to the housing market and policy efforts designed to get families out from under the overhang of debt, significant wealth inequality will persist for years to come. This is particularly apparent when recognizing  the staggering growth of the racial wealth gap. Today, November 17th, marks the two month anniversary of the protests, which should be applauded for initiating a national conversation about equality, mobility, and opportunity.

Comments on Treasury’s Financial Access Activities

November 17, 2011
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On Monday, the New America Foundation Asset Building Program submitted comments to the U. S. Treasury’s Office of Financial Education and Financial Access (OFEFA) on its financial access activities.

The Asset Building Program Comments on Treasury’s Financial Access Activities

November 16, 2011

On November 14, 2011, the Asset Building Program of the New America Foundation submitted a response to the U.S. Treasury’s Office of Financial Education and Financial Access (OFEFA) request for feedback on its financial access activities.

Oregon Asset Builders' Conference 2011

November 15, 2011
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Last week I had the opportunity to participate in the 2011 Oregon Asset Builders' Conference, which convened a range of practitioners working in the field. Topics ranged from applying behavioral economics to poverty reduction to developing a youth targeted IDA program. I was perhaps most excited about a hands-on session I attended on financial education and children where I used glitter glue and construction paper for the first time since elementary school.

Recovery and Resiliency

November 14, 2011

CASA of Oregon, Neighborhood Partnerships, and NeighborWorks Umpqua hosted Rebuilding the Path of Opportunity: An Oregon Asset Builders' Conference on November 9-10. Rachel Black presented "Recovery and Resiliency" at a plenary exploring the landscape of policy options to expand savings opportunities among lower-income households from the local to the national level. In the presentation, she gives a federal policy perspective and argues that helping households build financial resiliency through savings should be a core part of the economic recovery agenda.

Culture or Policy?

November 11, 2011

That's a question I waved at in a post yesterday about the Equity Summit 2011, specifically in reference to the roots of the massive inequality of wealth we see in the US. I wrote:

Beyond Barriers

  • By
  • Pamela Chan,
  • New America Foundation
November 14, 2011

Every cloud has a silver lining. In the case of the Great Recession, that silver lining is an increased awareness that Americans—especially those in lower-income households—are better off when they have access to a stock of liquid savings to weather unexpected events.  Without these precautionary savings, families are economically insecure. The process of building up these savings largely depends on access to an array of financial products and services, such as low-cost and high-quality savings accounts.

Opening Savings Accounts at Tax-Time

November 8, 2011

On November 3rd, Rachel Black presented "Opening Savings Accounts at Tax-Time: From Pilot to Policy" as part of the "Savings at Tax Time: Field Experiments and Policy Implications" session at the 2011 APPAM Research Conference in Washington, DC. This session detailed the latest findings from $aveNYC, a pilot launched by the City of New York to increase savings at tax-time, detailed the research agenda for the SaveUSA pilot expansion, and explored the implications this model has for federal policy design.

Asset Stripping

  • By Dalia Ben-Galim, Institute for Public Policy Research
November 7, 2011

On 24 May 2010, after only a few weeks in office, the Conservative–Liberal Democrat Coalition government announced that, as part of a package of measures designed to cut public spending by £6.2 billion, the Child Trust Fund (CTF) would be abolished, saving the government just over £500 million a year. As a result, children born in the UK in 2011 will no longer receive £250 at birth and a further £250 when they reach the age of seven (£500 for poorer families and disabled children).

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