Looking for our new site?

Meeting the Needs of Older Underbanked Consumers

Research, Policy & Practice
Cover Image

In the midst of one of the country's most pressing economic times, companies, foundations, and community leaders are shifting their focus to how they can help the growing number of vulnerable people build assets. Many experts believe that safe, affordable, and transparent financial services can play an important role in economic security, and in response, the financial services industry is looking towards innovation to increase the supply of products and services designed to promote asset-building. California, where more than 3 million households are un- or underbanked, is on the leading edge of this work.

On December 13, the AARP Foundation convened national, state, and city experts on income and financial services to examine Los Angeles' financial services problem among older adults; the barriers that prevent people from accessing financial services; and the marketplace, philanthropic, and policy solutions that will help remove those obstacles.

In this interactive solutions-focused program, attendees discussed how to better serve un- and underbanked older adults.

This program was offered in conjunction with the New America Foundation and the AARP Foundation. All attendees received copies of the AARP Foundation and AARP Public Policy Institute report "A Portrait of Older Underbanked and Unbanked Consumers: Findings from a National Survey."
 

Agenda

8:30 am - BREAKFAST & NETWORKING
9:00 am - WELCOME AND INTRODUCTIONS (VIDEO)
Jo Ann Jenkins
, President, AARP Foundation
                                            
9:15 am - SETTING THE STAGE WITH RESEARCH: WHO ARE THE UN- AND UNDERBANKED?
(VIDEO PART 1) (VIDEO PART 2)

Moderator
Neal Cutler, Executive Director, Center on Aging, Motion Picture & Television Fund, and AARP Foundation Board Member

Panelists
Daniel Tellalian, Director, Emerging Markets, Inc.
Vivian Vasallo, Senior Director, Community Innovation, AARP Foundation

10:15 am - BREAK

10:30 am - POLICY SOLUTIONS TO CREATE FINANCIAL EMPOWERMENT OPPORTUNITIES FOR THE UN- AND UNDERBANKED
(VIDEO PART 1) (VIDEO PART 2)

Moderator
Fernando Torres-Gil, Associate Dean of Academic Affairs at the UCLA School of Public Affairs (SPA), and AARP and AARP Foundation Board Member

Panelists
Richard Alarcon, City of Los Angeles Councilmember
Janis Bowdler, Director, Wealth-Building Policy Project, National Council of La Raza
Olivia Calderon, California Legislative Director, New America Foundion
Ernie Powell, Senior Manager, Advocacy, AARP-CA

11:45 am - BREAK

12:00 - LUNCH: MARKET-BASED INNOVATIONS FOR SERVING THE OLDER UNDERBANKED POPULATION (VIDEO PART 1) (VIDEO PART 2)


Moderator
Jennifer Tescher, Director, Center for Financial Services Innovation

Panelists
Leigh Phillips, Manager, Office of Financial Empowerment and Bank On San Francisco
Steve Streit, Founder, Chairman and CEO, Green Dot Corporation
Jesse Torres, CEO, Pan American Bank

1:15 pm - CLOSING REMARKS (VIDEO)
Jo Ann Jenkins, President, AARP Foundation

Event Time and Location

Monday, December 13, 2010 - 8:30am - 1:30pm
Center for Healthy Communities - The California Endowment
1000 N. Alameda Street
Los Angeles, CA 90012

Video Clips

See video
Policy Solutions
See video
Market-Based Innovations
See video
Conclusion