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CFSI launches latest industry report
January 28, 2007
Chicago - The Center for Financial Services Innovation's Responsible Credit Roundtable, formerly the Responsible Credit Partnership, has released its new research study, "Early Intervention and Credit Cardholders: Results of Efforts to Provide On-Line Financial Education to New-to-Credit and At-Risk Consumers."
The paper, released Jan. 29 in conjunction with CFSI's roundtable meeting in Minneapolis this week, examines the results of a series of pilot programs run by RCP members Target Financial Services, U.S. Bank, and Wells Fargo & Company.
All three companies found that while financial education is not a "quick fix" to improve customer-credit management and account profitability, improved communications and early intervention do hold promise for both consumers and card issuers.
A case study examining the opportunities and challenges of remittance products for the financial services industry, written by Prof. Ken Goodpaster of the University of St. Thomas, also will premiere at the Jan. 31 event.
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