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Evaluating ways to promote regular saving habits among prepaid card users

We believe that consumers are more likely to save if they have access to the right tools. Today, we’re announcing that, as part of Project Catalyst, we’ll be working with American Express to evaluate practices to promote regular saving habits among prepaid card users.

Published Category: Policy & Compliance

We’re open to innovative approaches to benefit consumers

Take a look around and you’ll see that the consumer financial marketplace is experiencing constant and rapid change. New technologies and insights can impact the way we borrow, save, transact, and receive information we need about finances. This environment can pose benefits and risks to consumers. Consumer-friendly innovation can drive down costs, improve transparency, and make people’s lives better. On the other hand, new products can also pose unexpected risks to consumers through dangers such as hidden costs or confusing terms.

New Project Catalyst research pilot to study early intervention credit counseling

We’re announcing a research pilot aimed at assessing the potential impact of early intervention credit counseling. We know that defaulting on credit card debt is a very stressful event for anyone and impacts consumers’ ability to access credit in the future. We’d like to use this opportunity to explore what ways may help consumers better manage their credit card debt and avoid default.