The Opportunity and Risks of Open Banking: A Financial Inclusion Perspective
Open banking has been heralded as a game changer for the financial industry, creating new opportunities for innovation, competition, and personalized financial services. With the p
What the Fed’s Half-Point Cut Means for Low-Wealth Consumers
In a surprising move, the Federal Reserve recently announced a half-point rate cut, sparking debates among economists, financial analysts, and policymakers alike. While headlines o
Back to the Future
Some are old enough to remember when the internet and financial services came together in the mid-1990’s, enabling brokerage customers to trade securities online. Clunky dial-up
Buy Now Pay Later: Convenience or Debt Trap?
The growth of point-of-sale installment payment options, often known as buy now pay later (BNPL), have offered consumers an alternative to credit cards, providing them flexibility
Expand Financial Inclusion For All
Imagine immigrating to America to seek a better life for your family. You strive for a better economic opportunity that will afford living expenses, obtain adequate housing, and ac
The Personal Debt Conundrum
It was sobering to see the Federal Reserve Bank of New York’s Q1 2023 report on household debt, where total US household debt surpassed $17 trillion at the end of […]
Data Insights: Withdrawals January – May 2021
Since our founding, Community Financial Resources (CFR) has actively tracked the impact of our products on the communities we serve through de-identified transactional data. Check
Navigating the Promise and Pitfalls of Debt Consolidation? Read this Prosperity Now brief!
Debt and past-due bills negatively impact the financial lives of many low- and moderate-income Black/African Americans. Yet many community members feel hesitancy around debt consol
CFR’s Response To COVID-19
Learn more about CFR’s Emergency Response Program Dear Friends and Partners, One month into the shelter in place, we hope you remain healthy, safe, and gainfully employed. Th
