Explore Explore

The financial challenges and the solutions available to solve them are evolving. At Commonwealth we explore the "new". In this section, read about our newest ideas and thoughts.

Tax Refund Splitting Can Help MA Families Save

From Berkshire County to Barnstable, one thing binds Massachusetts residents together: taxes. Tax time happens predictably every year, and a tax refund is often the largest single payment of money a household r…

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The CFPB’s Data Sharing Principles

In October, the Consumer Financial Protection Bureau (CFPB) released “Consumer Protection Principles: Consumer-Authorized Financial Data Sharing and Aggregation.” These principles acknowledge the growth and promise of tools that, with use…

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Board Reflections: An Interview with Brigitte Madrian

Board Reflections is a series of interviews with Commonwealth board members discussing their views on emerging financial challenges, innovative solutions, and the future. It is difficult to miss something you never had.  And what you call somet…

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Supplementing Health Expenses with Savings

Commonwealth is committed to building the financial security of financially vulnerable people, and one of the factors that is increasingly contributing to financial insecurity is health expenses – the average annual deductible grew 125% from 20…

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Board Reflections: An Interview with Howell Jackson

Board Reflections is a series of interviews with Commonwealth board members discussing their views on emerging financial challenges, innovative solutions, and the future. Personal choice.  Personal responsibility.  It is hard to argue agai…

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Opportunities of Hybrid Financial Products

by Commonwealth and Aspen Institute On May 18, the Aspen Institute Financial Security Program (FSP) and Commonwealth convened leaders from the financial services, FinTech, investor, non-profit and human resources communities to explore the promise o…

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Improving Financial Security Through Employer Benefits

Financial volatility caused by health expenses is a barrier to financial security. According to a study by JPMorgan Chase Institute, many families take at least 12 months to recover financially from a major medical expense. Can personalized data spur…

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Rise with your Raise: Linking Work to Financial Security

States, counties, and municipalities across the country have passed legislation to increase the minimum wage for 19 million workers, offering a once in a lifetime opportunity to build their financial security. At Commonwealth, we’re looking at …

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Gifting Savings

A national survey by the Federal Reserve found that only 53% of respondents could cover a $400 emergency expense without selling something or borrowing money. This drops to 25% for households with incomes under $25,000. In addition, less th…

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A New Framework for Innovation in the Federal Banking System

Federal regulatory agencies are often perceived as barriers to innovation, particularly in the financial services sector. However, there are efforts underway to change that perception. Last week the Office of the Comptroller of the Currency (OCC) rel…

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Minimum Wage Hikes – What if….

What if the coming minimum wage increases could be used to build financial security and opportunity for working families? Since 2015, significant momentum for minimum wage increases has spread across states and employers, affecting millions of low-w…

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Auto Loan Payment Schedules – What if…

What if there was an auto loan with a customizable repayment schedule based on fluctuations in borrowers’ monthly income and expense? Access to reliable transportation is crucial to a household’s financial security and opportunity. In ma…

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Save Your Tubmans in an MLK, Jr.?  Yes, Please.

The day after the announcement in April that Harriet Tubman would be the new face of the $20 bill, the Treasury Department tweeted an image of four major national newspapers heralding the move on their front pages. The New York Times called it nothin…

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