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."