Robert Clark Study Finds Greater Financial Security Inequality Among Black and Latina Women
A new study co-authored by Robert Clark, professor of economics, found greater financial security challenges among Black and Latina women than white women. The Financial Industry Regulatory Authority Inc.’s National Financial Capability Study also shows that COVID-19 has hurt retirement prospects for women in general.
“Financial education programs and research must direct more attention to the specific needs of Black and Hispanic women in terms of their financial well-being,” said the authors. “For example, a financial education curriculum can inform participants about the costs associated with alternative financial services or credit cards, but it will succeed better if it acknowledges the particular constraints facing Black and Hispanic women, such as access.”
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