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Are Most Mass. Residents Financially Literate?

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

Other stories from this show:

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Host Meghna Chakrabarti introduces us to newsmakers, big thinkers and artists and brings us stories of relevance to Bostonians here and around the region. Live every weekday at 3 p.m. and 10 p.m.

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