Are Most Mass. Residents Financially Literate?

29:19

July 30, 2012

Consumer awareness of financial services — everything from subprime mortgages to inscrutable credit card agreements — has been a hot topic since the financial crisis of 2008.

Just last week, the Office of Consumer Affairs and Business Regulation (OCABR) here in Massachusetts released a study which showed that Bay State consumers think they are keeping close tabs on their finances, but are unaware of many helpful resources and potential problems.

Resources, from OCABR:
-- 18-65 bank account information and brochure (PDF)
-- Information on managing credit and debt
-- Selecting banks and basic banking information
-- Project Credit Smarts

Guests:

Barbara Anthony, OCABR undersecretary
Margaret Miley, executive director, The Midas Collaborative
Thais DeMarco, program coordinator, The Somerville Community Corporation

This segment aired on July 30, 2012.