Promises & Pitfalls, As Consumer Finance Options Multiply, Who Is Being Served and at What Cost?


This fourth biennial research conference brings together a diverse audience from academia, financial institutions, community organizations, foundations and government to learn about current research on consumer finance. Consumer financial markets channel trillions of dollars of credit to households of varying income levels through a wide range of intermediaries operating in many markets. How efficiently do these markets operate, and how well are consumers' needs being met?..

Papers selected for presentation offer an evaluation of

Man standing in front of door beckoning for a man and woman to come inside.  Door is cut from George Washington's portrait on the one dollar bill.
  • behavioral economics and consumer financial decision-making;
  • financial literacy;
  • immigrant populations;
  • subprime and predatory lending;
  • consumer debt burdens, loan foreclosures, loss mitigations and bankruptcies; and
  • trends and innovations in consumer finance.

Promises & Pitfalls provides a unique opportunity to hear and discuss original studies
about new products, new players and new threats to access to credit and capital
for low- and moderate-income consumers. Emerging markets will also be discussed.
This conference will be of interest to:


  • financial institutions' executives, lenders, compliance and community
    development officers;
  • leaders and staff of community and economic development organizations;
  • policy-makers in community and economic development; and
  • scholars of economics, finance and banking, and urban studies.
Media contact

Ben Hardaway    ben.c.hardaway@frb.gov    202-452-2955

Community Affairs in the Federal Reserve System
Accessibility | Contact Us
Last update:April 8, 2005