CFSI Launches Policy Initiative to Address Access to Sound Financial Products for the Underbanked

New Policy Director Melissa Koide to champion federal financial services policy
CHICAGO--(Business Wire)--
The Center for Financial Services Innovation (CFSI) announced today the launch
of a significant policy initiative to provide national leadership and new ideas
on public policies that encourage and enhance access to reasonably priced
financial services for the financially underserved.

CFSI seeks to advance federal financial services policy to spur product
innovation and market competition, address impediments to high-quality,
reasonably-priced financial services access, and educate policymakers about low
income consumers` financial services needs. Specific policy activities will
include ensuring the needs of the 40 million underbanked households are
addressed in the current financial reregulation debate; promoting the SAFE-T
Account proposal to create a tax time prepaid debit and savings account; and
developing proposals to address the small dollar credit needs of underbanked
consumers.

"We are very excited to be making this announcement at such a crucial moment,
when so much policy attention is focused on the financial services industry,"
said Jennifer Tescher, Director. "By ensuring that the rules governing the
industry factor in the needs of lower income, underbanked consumers, we are more
likely to see the development of the kinds of products and services that put the
underserved on a path to financial prosperity."

CFSI`s policy initiative will be led by Policy Director Melissa Koide. Ms. Koide
comes to CFSI from the New America Foundation, where she was the Deputy Director
of the Asset Building Program. Ms. Koide`s prior experience includes work at the
U.S. Treasury Department, the Brookings Institution, and the Mayor`s Office in
the City of Louisville. Ms. Koide has developed federal policies to provide
savings and asset building opportunities for lower income families; she has
focused the attention of federal policymakers to the needs of underbanked
consumers; and she has engaged the financial services industry in innovative
financial services policies and initiatives.

For more information on CFSI Policy Initiatives, please contact CFSI at
info@cfsinnovation.com

About CFSI:

The Center for Financial Services Innovation is the nation`s leading authority
on financial services for underbanked consumers. Since 2004, its programs have
focused on informing, connecting, and investing - gathering enhanced
intelligence, brokering and supporting productive industry relationships, and
fostering best-in-class products and strategies. A non-profit affiliate of
ShoreBank Corporation, CFSI works with leaders and innovators in the business,
government and non-profit sectors to transform the financial services landscape.
For more on CFSI, go to www.cfsinnovation.com.

Lorie Bonham
Communications Manager, CFSI
T: 312-881-5807
lbonham@cfsinnovation.com
www.cfsinnovation.com

Copyright Business Wire 2009