Many families live paycheck to paycheck—often while coping with volatile income and expenses. With little to no savings and a limited social safety net, families are vulnerable to inevitable financial shocks. This event will highlight American families’ financial struggles and move beyond the problem to discuss coping mechanisms and strategies by which families can gain greater stability and achieve financial health, as well as policies and products through which the financial services industry and government can make that journey easier.
During the panel discussion, Lisa Servon, author of The Unbanking of America: How the New Middle Class Survives, will discuss the difficulties consumers encounter in the mainstream bank and credit system. Bruce Murphy, executive vice president at KeyCorp, will discuss the strategy Key has implemented over the past 10 years to help consumers resolve these difficulties. Rachel Schneider, coauthor of The Financial Diaries: How American Families Cope in a World of Uncertainty (forthcoming), will discuss the struggles and coping strategies of families from diverse communities, and the products and policies that could improve their opportunities for success. Urban Institute scholar Caroline Ratcliffe will discuss research on the role of emergency savings and programs to help families build wealth and get ahead.
- Bruce Murphy, executive vice president and head of corporate responsibility, KeyCorp
- Caroline Ratcliffe, codirector, Opportunity and Ownership Initiative and senior fellow, Urban Institute
- Rachel Schneider, senior vice president, Center for Financial Services Innovation
- Ellen Seidman, senior fellow, Urban Institute (moderator)
- Lisa Servon, professor, University of Pennsylvania
Reception and networking will begin at 5:30 p.m. The program will begin promptly at 6:00 p.m. For inquiries regarding this event, please contact firstname.lastname@example.org.