Todays complex financial marketplace makes it increasingly difficult to understand and navigate the array of products and services available from a variety of providers. Low- and moderate-income families, who have fewer financial resources to begin with, are most vulnerable to falling into financial distress. A solid grounding in personal finance and a clear understanding of the available options when making financial decisions are critical.

The creation of a national Financial Services Corps (FSC) would provide Americans with expert financial advice to understand the complexities of the financial services sector, access assistance when facing financial difficulties, and plan for savings and investment goals. Modeled after legal aid bureaus around the country that ensure access to legal services through the coordination of the Legal Services Corporation (LSC), the FSC will coordinate efforts on the ground that ensures access to financial advice and planning. The FSC will provide the infrastructure, resources, and support to engage and connect financial experts with low- and moderate-income families and communities. It will also reach out to consumers, empowering them to take charge of personal finances by understanding their needs and the surrounding environment that impact their financial decisions. Once established, the FSC will greatly expand the availability of financial experts; serve as a credible resource for financial information; and make timely financial information available for individuals who need it most.

Click on the link below for Melissa Koide's presentation on the Financial Services Corps at the 2009 National Council of La Raza Annual Conference.