Addressing Debt in African American Communities: Is Financial Coaching Enough?

Join us for a webinar on Thursday, April 30, 2020 from 1:00 – 2:30 ET to explore how financial coaching and counseling might support Black/African American clients to address debt, past-due bills and consumer rights.

Prosperity Now, and partner organizations Bon Secours Community Works, MD; Bedford Stuyvesant Restoration Corporation, NY and Urban League of Broward County, FL worked together over the past 3 years to tackle racial economic inequality.

You’ll hear from experts from the partner sites about how they drew from each other’s knowledge and expertise while exploring the root causes of clients’ experience to inform the field. Our Racial Wealth Divide Initiative, Applied Research, and Savings and Financial Capability team members will facilitate a timely conversation with practitioners about lessons learned and promising practices. Our teams will share data and insight gleaned from the strengths and limitations of programs like coaching, as well as products and services like fintech and consolidation loans.

Low- and moderate-income Black/African American community members have been disparately impacted by debt. Through a previous qualitative research exploration, we heard from this community that they wanted support from financial coaches to help negotiate and manage debt. With support from MetLife Foundation, Prosperity Now partnered with Black/African American-led community-based organizations to document and refine debt coaching programs centered on their clients’ socioeconomic reality.

The project concluded with a national survey of Black/African American community members with debt. Nearly 9 of 10 respondents reported one or more of their debt was a financial challenge, and we heard clear calls for debt forgiveness. Join us to hear more and be the first to learn about our soon to be released briefs on the potential for fintech and consolidation loans.

Featured Speakers

Cat Goughnour, Associate Director, Racial Wealth Equity; RWDI, Prosperity Now
Spectra Myers, Associate Director, Applied Research, Prosperity Now
Hiba Haroon, Associate Director, Savings & Financial Capability, Prosperity Now
Stephanie Landry, Senior Research Manager, Applied Research, Prosperity Now
Ivan Avila, Research Associate, Prosperity Now
Molly Ornati, Assistant Director, Bedford Stuyvesant Restoration Corporation
Pilayne Franklin, Financial Counselor, Bedford Stuyvesant Restoration Corporation
Russchelle Martin, Center for Working Families Program Coordinator, Urban League of Broward County
Vanessa Hill, Jobs & Training Division Manager, Urban League or Broward County
Althea Saunder-Ranniar, Director of Financial Services & Education, Bon Secours Communiy Works
LaTonya Hamilton, Community Financial Services Specialist, Bon Secours Communiy Works

NOTE: This webinar is free, but advanced registration is required. Please register today!