Efforts to improve consumers¿ financial literacy (FL) have grown in recent years. Currently, hundreds of non-profit, private, and governmental entities provides some form of financial education to Americans. The federal government does not certify or approve organizations in general that provide FL, although the U.S. Trustee Program and the HUD have approval process for FL providers for the purposes of meeting requirements of, respectively, the bankruptcy process and certain housing programs. This report addresses: (1) what is known about which methods and strategies are effective for improving FL; and (2) the feasibility of a process for certifying FL providers. Charts and tables. This is a print on demand report.
More than 12 million adults in the U.S. report they do not speak English well or at all. Proficiency in reading, writing, speaking, and understanding the English language appears to be linked to multiple dimensions of adult life in the U.S., including financial literacy -- the ability to make informed judgments and take effective actions regarding the current and future use and management of money. A recent Federal Act in 2009 mandated an examination of the relationship between fluency in the English language and financial literacy. This report examines the extent, if any, to which individuals with limited English proficiency are impeded in their financial literacy and conduct of financial affairs. Illustrations.
Consumers are increasingly turning for help to financial planners (FP) individuals who help clients meet their financial goals by providing assistance with such things as selecting investments and insur. products, and managing tax and estate planning. This report examines: (1) how FP are regulated and overseen at the fed. and state levels; (2) what is known about the effectiveness of this regulation; and (3) the advantages and disadvantages of alternative regulatory approaches. To address these objectives, this report reviewed fed. and state statutes and regulations, analyzed complaint and enforcement activity, and interviewed fed. and state gov't. entities and org. representing financial planners, and consumers. Illus. This is a print on demand report.
The growing volume of consumer products imported into the U.S. has strained the resources of the Consumer Product Safety Comm. (CPSC), challenging the agency to find new ways to ensure the safety of these products. The Consumer Product Safety Improvement Act required this report to assess the effectiveness of CPSC¿s authorities over imported products. The objectives were to: (1) determine what is known about CPSC¿s effectiveness in using these authorities; (2) compare CPSC¿s authorities with those of selected U.S. agencies and international entities; and (3) evaluate CPSC¿s plans to prevent the entry of unsafe consumer products. Includes recommendations. Charts and tables.
Approx. 6.6% of credit cards (CC) were 30 or more days past due in the first qtr. of 2009 -- the highest rate in 18 years. To recover delinquent debt, CC issuers may use their own collection dept., outside collection agencies, collection law firms, or sell the debt. This report examined: (1) fed. and state consumer protections and enforcement respon. related to CC debt collection; (2) the practices involved in collecting and selling delinquent CC debt; and (3) issues that may exist related to some of these practices. To address these objectives, the author interviewed rep. from 6 large CC issuers, 6 third-party debt collection agencies, 6 debt buyers, two law firms, fed, and state agencies, and attorneys and organizations representing consumers and collectors. Illus.
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