July 2016 Newsletter
RAISE Texas News
Register NOW for the Upcoming Webinar on Employer-Based Asset-Building Programs
Join the Federal Reserve Bank of Dallas, Center for Public Policy Priorities and RAISE Texas for this upcoming webinar, Workplace Financial Wellness: How Employers Can Help Their Employees Build Financial Stability, on July 12 from 2:00pm-3:00pm Central. This webinar will focus on how employers can connect their employees with financial wellness programs and products in Texas. Because financial stress significantly impacts employee performance, there’s a business case that can be made compelling more employers to offer such programs. Specifically, the webinar will highlight three low-cost workplace tools, including two savings programs and an employer-based small dollar loan program, available to Texas employers.
Click this link to register now: www.raisetexas.org/action/registration_workplace_financial_wellness_webinar_2016/
Thank you to the Federal Reserve Bank of Dallas for hosting this webinar.
Children’s Savings Account Pilot Webinar Presentation AvailableRAISE Texas and OpportunityTexas presented at a webinar on the Children’s Savings Account (CSA) for College pilots on June 23, hosted by the Texas Department of Banking. The webinar was a success and lots of people were interested in hearing about these pilots. If you missed the webinar, our slide presentation is now available here. We would like to thank the Texas Department of Banking for inviting us to present on our CSA work.
Comment on the CFPB’s new rules for the payday and auto title lending market
Texans need to let the CFPB know how payday and auto title lending impacts your family, clients, and community. Support strong reforms that close loopholes and ensure that loans are based on the ability to repay. The CFPB is collecting comments about their new proposed rules for the payday and auto title lending market. We need YOU to comment in support of strong reforms so please submit comments now using the instructions below.
- For borrowers, clients, community members, and others who want to submit personal stories as the essence of their comments, and have relatively short comments, use one of the following three methods to send in your comment
1. Online form available at: www.stoppaydaypredators.org/texasfairlending/
2. Email: FederalRegisterComments@cfpb.gov . Include Docket No. CFPB-2016-0025 or RIN 3170–AA40 in the subject line of the email.
3. Paper forms can be filled out and collected and mailed by the sponsoring organization. Here are some possible templates in English, in Spanish and from the CFPB. Forms should be mailed to: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1700 G Street, NW., Washington, DC 20552. Include Docket No. CFPB-2016-0025 or RIN 3170–AA40.
- For organizational comments, letters from city councils or other elected officials, or for longer comments, use one of the following three methods to send in your comments:
1. Email: FederalRegisterComments@cfpb.gov . Include Docket No. CFPB-20
16-0025 or RIN 3170–AA40 in the subject line of the e-mail.
2. Upload comments in pdf form onto regulations.gov. Put the docket number in the search bar (NOTE: Regulation has not been posted there yet. Must be posted by July 14). Include docket number in your document heading.
3. Mail to: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1700 G Street, NW., Washington, DC 20552. Include Docket No. CFPB-2016-0025 or RIN 3170–AA40
All comments must be received on or before September 14, 2016.
Evaluation of Online Financial Coaching Platform Released
The Center for Financial Security’s new MyBudgetCoach Pilot Evaluation Final Report, authored by Michael Collins, Leah Gjertson and Collin O’Rourke, was just released. Over 300 individuals were recruited to participate in the pilot study at sites located in Maryland, Ohio, Pennsylvania and Texas. The report finds that coaching clients that used the MyBudgetCoach (MyBC) platform significantly improved their overall financial health. Another exciting finding is that MyBC clients that met with their financial coaches remotely, via a screen sharing tool and the telephone, achieved financial health outcomes every bit as good as coaching clients that used MyBC but met with their coaches in-person. Access the entire report here.