The Financial and Digital Literacy Gap: It’s a Trap!
There’s no question that there are big gaps in financial literacy between the rich and poor, and between those included and excluded at every income level and in every country. As digital finance becomes more important, the gap grows and takes on added dimensions. No wonder that financial (and now digital) literacy programs attract attention and millions of dollars globally.
But the evidence we have suggests that most financial literacy interventions don’t change behavior, and ultimately may be worse than a waste of time and resources.
What can be done about literacy gaps? Are there alternatives to financial and digital literacy programs? Can consumer protection regulation make up for literacy gaps? Who needs to take action?
This Financial Literacy month, join Tim Ogden, Managing Director of the Financial Access Initiative, as we discuss the financial and digital literacy gaps and traps. Tim will be joined by:
– Rafe Mazer, Director, Consumer Protection Initiative at Innovations for Poverty Action
– Jayshree Venkatesan, Director, Responsible Finance and Consumer Protection at the Center for Financial Inclusion
– Lauren Willis, Associate Dean for Research and Professor of Law at Loyola University
Time: 10:30 AM in Eastern Time (US and Canada)
Date: Wednesday, April 27, 2022