Department of Consumer Affairs Releases Report on the Ways Neighborhoods Influence Residents’ Financial Health
The Report Defines Neighborhood Financial Health and Offers a Set of Goals and Indicators for a Financially Healthy Neighborhood
NEW YORK, NY—Department of Consumer Affairs (DCA) Commissioner Lorelei Salas today released the “How Neighborhoods Help New Yorkers Get Ahead” report, which defines and creates a framework for understanding and addressing how neighborhoods influence the financial health of individual residents. Over the past year, with the support of the Mayor’s Fund to Advance New York City and the Citi Foundation, DCA’s Office of Financial Empowerment (OFE) has undertaken the Collaborative for Neighborhood Financial Health project to engage with New Yorkers at the community level to understand what factors influence a neighborhood’s financial health. OFE engaged hundreds of East Harlem and Bedford-Stuyvesant neighborhood residents and stakeholders in interviews, focus groups, and interactive community workshops to learn more about neighborhood conditions and the ways those conditions support or limit individual financial health.