Only a few people ever achieve liftoff of the astronautical kind, and one of them spoke last week to the group that is turning the Filene Research Institute i3 innovation LIFT into reality.
LIFT is being tested as a way to improve repayment behavior and financial capacity. Guest speaker and astronaut Janet Kavandi, Director of Flight Crew Operations at the Johnson Space Center, spoke to Filene and five partner credit unions during the launch of this idea that provides incentives for timely loan payments. The University of Wisconsin-Madison’s Center for Financial Security will study automobile loans to 1,200 LMI consumers with subprime credit scores, with the results to be published in 2013.
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