Elevate’s Center for the New Middle Class Launches Industry Research Repository
November 20 2017 - 8:30AM
Business Wire
The Resource Database contains research from
diverse viewpoints about the middle-class, alternative lending, the
banking system, and financial literacy for the public
The Center for the New Middle Class, a research-focused body
developed by Elevate to engage and educate the public about the
growing needs of individuals who do not have access to traditional
credit options, today announced it has launched an industry
research repository for researchers, reporters, policy makers and
the general public. Known as the Resource Database, it is a curated
collection of the best research on non-prime Americans and their
challenges, attitudes, and needs.
In addition to containing external research and editorial
content from sources such as Pew, the National Bureau of Economic
Research and “The Atlantic,” the database will house research and
commentary from the Center for the New Middle Class regarding
economic conditions that affect America’s New Middle Class. The New
Middle Class is defined as those who struggle to make financial
progress due to a lack of credit or poor credit, specifically those
with credit scores below 700, or no credit score at all. This group
now represents a majority of the US, and the repository will serve
as a resource for users who want to learn more about the changing
landscape of this group and various points of view about the
space.
“The middle-class was hit the hardest during the Great
Recession, even more so than their lower- and upper-class
counterparts,” said Jonathan Walker, executive director of the
Center for the New Middle Class. “It’s more important than ever to
advocate for innovation and change that supports the recovery of
this group.”
He continued, “Creating a central place where reporters, policy
makers and the general public can find relevant, reliable
information furthers the conversation, allows us to understand
various viewpoints on the economic factors affecting the New Middle
Class, and gives light to the everyday struggles that we can use
technology to solve for. We can learn that these individuals are
not just borrowers or consumers, but they are families who have
struggled to find a footing after being left out of the
conversation about lending and banking in our country.”
By visiting the database here users can search for entries,
filter the results, and see the full bibliographic reference of
information provided. “We hope the Resource Database will be an
invaluable tool for users who seek to better understand the New
Middle Class and can help piece together the story of the New
Middle Class,” Walker said.
About Elevate’s Center for the New Middle Class
Elevate’s Center for the New Middle Class conducts research,
engages in dialogue, and builds cooperation to generate
understanding of the behaviors, attitudes, and challenges of
America’s growing “New Middle Class,” defined as those with credit
scores below 700. For more information,
visit: http://www.newmiddleclass.org or follow:
@NewMidClass.
About Elevate
Elevate (NYSE: ELVT) has originated $4.9 billion in non-prime
credit to more than 1.8 million non-prime consumers to
date and has saved its customers more than $2 billion versus
the cost of payday loans. Its responsible, tech-enabled online
credit solutions provide immediate relief to customers today and
help them build a brighter financial future. The company is
committed to rewarding borrowers’ good financial behavior with
features like interest rates that can go down over time, free
financial training and free credit monitoring. Elevate’s suite of
ground-breaking credit products
includes RISE, Elastic and Sunny. For more
information, please visit http://www.elevate.com.
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