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A Bank account should be a human right

May 28, 2010

“Financial literacy is the new civil rights of today” says John Hope Bryant, Founder, Chairman and CEO of Operation HOPE.   Speaker at this week’s OECD Forum, Bryant insists that understanding the fundamentals of finance is a must for everyone. Fighting poverty and unemployment cannot be successful if we don’t give people that knowledge. Check out his contribution to OECD’s educationtoday

Useful links:  OECD work on financial literacy

4 Comments leave one →
  1. May 28, 2010 14:19

    Agreed. In addition to education, regulation and monitoring of financial institutions is also required as not everyone can grasp modern-day financial intricacies. The vast majority of common people do not have the resources, time or understanding to read an intricate financial contract for a bank account, mortgage, or other financial instrument.

    Empirically, countries with strong financial consumer protection have weathered the credit storm better than those without: USA and Canada come to mind — as there was less gap between perceived value and real value of consumers’ financial interests.

  2. June 6, 2010 17:56

    There is, in my opinion, nothing more important for consumers to have equal access to banking facilities. In South Africa there are so much focus on housing and education, which is great, but after that the focus is gone. I would like to see that the government sees through the process of empowering should continue in the fact that consumers must be provided with a bank account and teach them how to use that account.
    Stefan

  3. February 23, 2011 07:02

    Before making it a human right be sure to address the basic human rights are addressed. Because in third world countries surviving for the day is the most important of all and banking is not a priority for developing country citizens. It is not that important really and believe that it won’t matter for people who struggle to put food on their table.

Trackbacks

  1. Life, liberty and access to credit « OECD Insights Blog

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