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Monday, December 15, 2014

CFPB Announces Consumer Saving Research Pilot

As part of the Dodd-Frank Act mandate to empower consumers to make better informed financial decisions, the CFPB announced a Project Catalyst research pilot to analyze the effectiveness of certain practices designed to encourage positive saving habits. The research will focus on saving behavior among low- and moderate-income prepaid card users who often do not have access to traditional savings accounts and who may face unique challenges building regular saving habits.

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