Consumer Financial Protection Bureau's "Your Money, Your Goals"

Author: Noah Gomez
Published
: 18 December 2023

Description

The Consumer Financial Protection Bureau's "Your Money, Your Goals" toolkit is a critical document for classifying and understanding financial products. Though intended to guide consumer in their choice of products, the toolkit provides insightful classifications that guide much of ThickCredit's recommendations via content and products.


Clinical description
Controlled experiment assessing the efficacy of credit builder loan on real world subjects.

Organization

Consumer Financial Protection Bureau

Authors

Consumer Financial Protection Bureau

Link & Meta

Status: Published
Date: June 2020
Report Type: Toolkit
ID: Your Money, Your Goals

Insights

This study provides a framework for for classifying consumer financial products as outlined in ThickCredit content.

Full Abstract

"The toolkit has information that helps you have money conversations with the people you serve. Use the tools to help achieve goals and work through challenges.

You can use the toolkit to help people make spending decisions that can help them reach their goals, order and fix credit reports, make decisions about repaying debts and taking on new debt, keep track of their income and bills."

Limitations

There are no inherent limitations to the content in the toolkit, but we think the CFPB's classification hinders borrowers creative use of the products at their disposal by oversimplifying the differences between products whose purposes are similar but whose structures differ sharply.

Similar Reports

This report is part of ThickCredit's "Public Studies & Reports" collection, which includes other governmental and non-governmental studies and reports about credit building and its products. Others include:

This report is part of ThickCredit's "Public Studies & Reports" collection, which includes other governmental and non-governmental studies and reports about credit building and its products. Others include:

About the Author

Noah Gomez (founder of Thick Credit) is a transatlantic professional and entrepreneur with 3+ years experience in consumer finance education. He also has 5+ years of experience in corporate finance, including debt financing, M&A, listing preparation, US GAAP and IFRS.

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