The American Rescue Plan Act (ARPA) Opportunity
How FinServ, FinTech and Employers can Multiply Impact for Workers and Customers
ARPA is a powerful, perhaps unprecedented opportunity to advance financial security and equity, and financial services, employers and benefits industries have a vital role to play.
In March President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) into law – another round of long-awaited support and relief from Congress to help Americans deal with the painful economic impact of the COVID-19 pandemic. The passage of this law means $400B has begun to flow into households in 2021 and early 2022, and create significant opportunities for employers, financial services, and fintechs to support workers and customers to build financial security – and advance racial equity in the process. ARPA’s expanded Child Tax Credit, for instance, represents a first-of-its-kind six month trial of recurring cash infusion for tens of millions of households with children, with potentially life-changing effects.
How can employers make these new funds as impactful for their workforce as possible? What role do FinServe and FinTech play? How can workers use ARPA as a savings opportunity? Despite the legacy of systemic discrimination against women and BIPOC, how can we empower families to take full advantage of these funds? Join Build Commonwealth and industry experts for a discussion on May 6th as we answer these questions and discuss the implications of ARPA for systemic financial change and ensuring a truly inclusive recovery.
Moderated by
- Timothy Flacke, Co-Founder and Executive Director, Commonwealth
Panelists
- Craig J. Lewis, CEO of GigWage
- Debra Plousha-Moore, Principal and Founder of Plousha Moore Group
- Marcia Chong Rosado, Finance Lead at Village Capital
- Mary Dent, former CEO, Green Dot Bank
This webinar is made possible in part by support from: JPMorgan Chase & Co., MetLife Foundation, Prudential Financial, Inc., and Rockefeller Foundation.
