Blog
Access Commonwealth’s latest thinking, new ideas, and practical insights from our team of innovators, researchers, and business experts.
Designing Financial Solutions for Elder Caregivers
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 against that pair of values. Yet while that…
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 of “integrated” and “hybrid” financial solutions.…
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 a…
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 how we can partner…
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 than half of those…
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) released a new framework…
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-wage workers. The recent…
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 many places, public transportation can…
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…