Publications
California Family Economic Self-Sufficiency Standard by County
Source: Insight CCEDThe Family Economic Self-Sufficiency Standard (Self-Sufficiency Standard) takes into account the cost of – housing, food, child care, out-of-pocket medical expenses, transportation, and other necessary spending in each county – and provides a complete picture of what it takes for families to make ends meet.
Conservative Protestants and Wealth: How Religion Perpetuates Asset Poverty
Author: Lisa A. KeisterThis article explores how religious affiliation affects wealth ownership for conservative Protestants (CPs). Keister's research demonstrate that religion affects wealth indirectly through educational attainment, fertility, and female labor force participation. The results also provide evidence of a direct effect of religion on wealth. Low rates of asset accumulation and unique economic values combine to reduce CP wealth beyond the effects of demographics. The findings improve understanding of the relationship between religious beliefs and inequality.
PDF: Enabling Families to Weather Emergencies and Develop The Role of Assets
Source: Urban InstituteLow-wage jobs can be unstable, leaving families struggling to cope with employment gaps and financial emergencies that can strike without warning. About four in five low-income families are "asset poor," lacking enough liquid savings to live for three months at the federal poverty level without earnings. In this essay, McKernan and Ratcliffe suggest a cluster of policies that would improve financial markets and savings opportunities for low-income families across the life cycle.
From Mattress Money to Checking Accounts: A Profile of Bank on San Francisco
Source: Community InvestmentsBank on San Francisco has proven to be a welcome addition to the asset building toolkit for the city’s working families. Learn about how it got started and what can be learned from this program.
Income is No Shield Against Racial Differences in Lending II
Source: NCRCA new report by the National Community Reinvestment Coalition (NCRC) shows that minority consumers, regardless of income level, are most at risk of receiving high-cost home mortgage loans. High-cost loans represent the riskiest and most poorly underwritten home mortgages, millions of which have fallen into foreclosure in the last two years. The study, Income Is No Shield Against Racial Differences in Lending II, examined subprime and near prime (“Alt-A”) loans from more than 219 metropolitan areas, as reported under the Home Mortgage Disclosure Act data from 2006, the most recent publicly available data.
When Traditional Asset Building Is Not Enough
Author: Jessica Gordon NembhardSource: Urban Institute
This paper is a response to "Enabling Families to Weather Emergencies and Develop: The Role of Assets," by Signe-Mary McKernan and Caroline Ratcliffe.
Beyond the Mortgage Meltdown: Adressing the Current Crisis, Avoiding a Future Catastrophe
Author: James LardnerSource: Demos
With millions of American families facing foreclosure and the U.S. Senate moving toward approval of a compromise bill, the public policy center Demos takes stock of the housing market crisis and the federal response to date. The findings of a new Demos report--"Beyond the Mortgage Meltdown: Addressing the Current Crisis, Avoiding a Future Catastrophe"--show that, beyond the terrible consequences families face in this crisis, the housing market is in short- and long-term economic peril.
How Much Would a State EITC Cost in 2009
Author: Jeremy Koulish & Jason LevitisTwenty-three states have enacted tax credits for low- and moderate-income working families based on the federal Earned Income Tax Credit. A number of additional states are considering enacting EITCs in the 2008 legislative session. The following provides guidelines that policymakers and others can use to estimate the cost of a refundable state Earned Income Tax Credit that is set at a percentage of the federal credit. The estimating procedure is a simple three-step process.
2007-2008 Assets & Opportunity Scorecard
Source: CFEDThe 2007-2008 Assets and Opportunity Scorecard is a state-level snapshot of how the country is performing in six key areas: financial security, business development, homeownership, health care, education, and tax policy, and accountability. See how California ranks in these areas.
2008 Energy Costs Survey
Source: Energy Programs ConsortiumHouseholds in the U.S. face large increases in both home energy and gasoline prices over the past few years. Coupled with the recent economic downturn and increases in costs of food and many other necessities, it is expected that low- and moderate-income households are having an increasingly difficult time making ends meet. While some of these impacts have been documented anecdotally, a systematic study of the recent impacts of rising home energy and gasoline costs, and how these impacts vary with household income, has not been done. The purpose of this study is to develop an understanding of the sacrifices and tradeoffs that low, moderate, and middle income households have made in response to rising fuel costs.
Assets Report 2008
Source: New America FoundationThis annual report summarizes and takes stock of the current state of federal policy through an asset-building lens, especially as it affects the asset base of lower-income families with limited resources.
Brief: County Asset Building Coalitions - Promising Practices from Across the Country
Author: Heather McCullochSource: Bay Area Asset Support Center
A growing number of city and county coalitions that once started with a single issue focus have recently broadened their efforts to include multiple asset-building strategies. A new brief, produced by asset- building consultant Heather McCulloch, addresses this new trend. The brief focuses on promising examples of county asset-building coalitions and is designed to inform the work of emerging coalitions in the San Francisco Bay Area.
Locked Out: Housing Boom and Beyond
Source: California Budget ProjectThis report outlines steps that policymakers could take to help increase the supply of affordable housing, assist homeowners who face foreclosure, protect future homebuyers, and reduce and prevent homelessness.
Retirement security for Women: Progress To Date and Policies for Tomorrow
Source: Retirement Security ProjectElderly women today have lower retirement resources than elderly men, and it is projected that these gender differences will persist for future cohorts of retirees, despite secular improvements in women's earning power. This paper examines the underlying reasons for the differences between men and women's retirement preparedness and the challenges for women from lower income families.
Tackling the Mortgage Crisis: 10 Action Steps for State Government
Author: Alan MallachSource: Metropolitan Policy Program
Although most media attention remains focused on the role of the federal government in stemming this crisis, states have the legal powers, financial resources, and political will to mitigate its impact. This paper describes how state government can tackle both the immediate problems caused by the wave of mortgage foreclosures and prevent the same thing from happening again.
Building Community Assets: Growing Lower-Income Credit Union Membership
Source: Woodstock InstituteThis Woodstock Institute report details the partnership process and lessons learned from a two-year technical assistance program designed to help community organizations partner with mainstream credit unions with the goal of enrolling new lower-income members or expanding an existing partnership.
How Much Does the Federal Government Spend on Economic Mobility and for Whom?
Source: Economic Mobility ProjectThis report finds that $746 billion in federal funds were spent to promote economic mobility across all households in 2006. Nearly three-quarters of those funds (or $540 billion) were targeted specifically at employer-provided work subsidies, aids in asset accumulation, and savings incentives.
Return on Investment? Getting More from Federal Asset Building Policies
Author: Lillian Woo & David BuchholzSource: CFED
In 2005 the federal government spent $367 billion just to promote asset building. However, the biggest beneficiaries of asset-building policies are those households who need the least help in saving and investing.
The Power of Experience in Understanding Underbanked Markets
Source: CFSIFinancial institutions have begun to recognize the enormous potential in serving underbanked households, which, according to some estimates, may number as many as 40 million. But it is becoming clear that attracting underbanked consumers is no simple task. While underbanked consumers differ from their banked counterparts, they also differ among themselves. Indeed, they represent many different markets, based on their likes and dislikes, attitudes, behaviors, financial situations, and other factors. To attract underbanked consumers and win their trust, banks need to deliver experiences that are desirable to each different market.
The Role of Public Policy in Reducing Poverty and Expanding Economic Opportunity
Author: Jennifer Brooks & Leigh TivolSource: CFED
Helping America’s poor build assets is one of the most cost‐effective and sustainable improvements we can make as a society. While policymakers seeking to reduce poverty have traditionally focused on income, spending, and consumption, a new vision has steadily gained prominence in recent years, focusing on savings, investment, and asset‐building policies that work in conjunction with, not instead of, traditional anti‐poverty policies and programs.
Banking on Wealth: America's New Retail Banking Infrastructure and its Wealth-Building Potential
Source: Brookings InstitutionFinancial institutions recognize the enormous potential in serving underbanked households, yet it’s clear that attracting these consumers is not simple. A new study released by the Center for Financial Services Innovation confirms the importance of understanding the varied preferences of underbanked consumers in designing an optimal financial services experience.
Families Saving and Building Hope
Source: Silicon Valley Community FoundatThis new and important study contributes to the growing body of research demonstrating that low-and moderate-income families can and will save when offered targeted incentives, quality financial education, and access to appropriate financial products. It also provides key insights for policymakers committed to expanding savings and wealth-creation opportunities for low-income persons throughout the United States.
