Aspen is a place for leaders to lift their sights above the possessions which possess them. To confront their own nature as human beings, to regain control over their own humanity by becoming more self-aware, more self-correcting, and hence more self-fulfilling.
Walter P. Paepcke, Aspen Institute Co-Founder
Aspen Institute
Publications
Toward A National Strategy for Financial Inclusion
The financial system represents critical infrastructure for the U.S. economy. When it’s well functioning, it provides all people the financial tools to live up to their full potential – making the ‘American Dream’ a reality. However, not everyone in our country has benefitted in the same way from financial services. Recently, both U.S. Senators and a large coalitionof industry and nonprofit stakeholders have led a call for a U.S. National Financial Inclusion Strategy. These groups believe that a coordinated, comprehensive approach to financial inclusion— one that defines national financial inclusion objectives and sets out a prioritized list of action steps— will help accelerate our progress towards a financial system more people can benefit from.
This paper provides a detailed roadmap for policymakers to deliver such a national strategy. Drawing on lessons learned from other countries that have implemented national strategies, we outline here a set of guiding principles, an implementation guide and a measurement framework to inform the development of a National Strategy.
We believe that following this guidebook will get us closer to an America where all people can access, use, and reap the benefits of a full suite of financial products for stability, resilience, and long-term financial security.
This paper was developed with support from Wells Fargo. This paper was also developed as part of the Global Inclusive Growth Partnership, a collaboration between the Aspen Institute and the Mastercard Center for Inclusive Growth.
Additional Reading from Building Inclusive Financial Systems
This brief provides a roadmap for a national commission that would prepare a comprehensive, whole of government, national financial inclusion strategy.
Most households experience at least one financial shock in a given year, but there are few comprehensive solutions to help them. How can we solve this persistent challenge?
The Strategy outlines opportunities to improve benefits delivery, particularly through government provided or purchased financial products and services.
This case study takes lessons from the legal field’s efforts to empower Native youth to learn how we can build a financial sector that better serves diverse communities.
