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ODE P 

Office of Disability 

. Employment Policy 

Consumer Financial 

Protection Bureau 

TO: 	 State and Local Governments 


Employers/Employment Groups 


Community Development Organizations 


Disability Stakeholders & Advocates 


. A . S 	 1· ltf>, 1 j,'Vf:-.ff FROM: 	 Kathy Martmez, ss1stant ecretary 1 1'fJ ...., ....__.. 


Office of Disability Employment Policy, U.S. Department of Labor 


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Daniel Dodd-Ramirez, Assistant Director ffl~ Office of Financial Empowerment, Consumer Financial Protection Bureau 

RE: 	 Promoting Pathways to Economic Stability for Workers with Disabilities 

DATE: 	 August 7, 2014 

PROMOTING FINANCIAL CAPABILITY OF WORKERS WITH DISABILITIES 

Effective management of money and credit and improved financial decision-making are important skills 

for youth and adults with disabilities as they enter the workplace. The Office of Disability Employment 

Policy (ODEP) in the Department ofLabor and the Office ofFinancial Empowerment in the Consumer 

Financial Protection Bureau (CFPB) are working together to enhance financial capability by sharing 

resources and leveraging partnerships both inside and outside ofthe workforce investment system. 

The collaboration between ODEP and CFPB draws on the unique strengths of each agency. ODEP is 

invested in promoting sustainable systems-change efforts that increase integrated employment outcomes 

and economic stability for youth and adults with disabilities. 1 Employment is a critical foundation for 

1 In recognition of the need for a national policy to ensure that people with disabilities are fully integrated into the 21st Century 

workforce, ODEP was established by Congress in 2001 . The Secretary of Labor delegated authority and assigned responsibility 

August 2014 1 
creating pathways to economic stability, greater community participation, and quality-of-life outcomes for 

all people. Helping individuals with disabilities to participate in the workforce so that they can develop 

their own plans for long-tenn economic stability is a priority for ODEP. 

The CFPB was created to help make financial products and services work for all Americans by ensuring 

transparency in the marketplace. This means that prices are straightforward, risks are visible, and 

consumers have access to the information they need to make informed financial decisions for themselves 

and their families. The Office of Financial Empowerment focuses on the unique challenges faced by lowincome and economically vulnerable consumers- individuals who often face significant barriers and 

deceptive practices that impede their ability to achieve employment and long-tenn economic stability ­

including people with disabilities. 

Both agencies are concerned with the barriers and challenges to achieving economic security and selfsufficiency that individuals with disabilities often face. That is why we are committed to making sure that 

these individuals have the help and support they need as job seekers and workers to begin planning and 

saving for their financial goals. If you or individuals with disabilities that you work with have questions 

or are experiencing difficulties with financial products, we want to hear from you. 

AVAILABLE FEDERAL FINANCIAL CAPABILITY RESOURCES & ASSISTANCE 

The Consumer Financial Protection Bureau (CFPB)2 has developed several important tools that all 

consumers can use to help protect themselves from deceptive and abusive financial practices. These tools 

also work to help people learn more about their rights and provide consumers, for the first time, with a 

central federal agency to contact when they are having issues with financial products or services. Here are 

several ways the CFPB can assist you and the people you work with: 

• 	 CFPB's Office ofConsumer Response will forward your consumers' complaints about a variety 

of consumer financial services or products to the appropriate company, work to get consumers a 

response to their issue, and provide consumers with status updates throughout the complaint 

process. Submitting a complaint and tracking your status is simple and secure. The fastest way to 

get started is to go to www.consumerfinance.gov/Complaint. Ifa consumer needs help while 

online, they can chat with one of CFPB's team members on the site. They can also submit a 

complaint over the phone by calling the CFPB at (855) 411-CFPB (2372) toll free. CFPB's U.S. 

based call centers can help in over 180 languages, and can also take calls from consumers who are 

hearing impaired, have hearing loss, or have speech disabilities TTY /TDD number: (855) 729­

2372. Learn more about submitting a complaint: www.consumerfinance.gov/Complaint. 

• 	 Ask CFPB is an interactive online tool that gives consumers clear, unbiased answers to common 

consumer financial questions. Ask CFPB contains more than 1,000 easy-to-read, plain-language 

entries written by the Bureau' s subject-matter experts. Ask CFPB provides definitions that 

translate highly technical industry jargon to help consumers better understand financial products 

to the Assistant Secretary for the Office of Disability Employment Policy. ODEP is a sub-cabinet level policy agency in the U.S. 

Department of Labor. 

2 The Dodd-Frank Wall Street Reform and Consumer Protection Act of2010 (Dodd-Frank Act) established the CFPB. 

August 2014 2 
and services. Ask CFPB is available in English (http://www.consumerfinance.gov/askcfob/) and 

Spanish (http://www.consumerfinance.gov/es/). 

RECENT ACTIVITIES OF CFPB & ODEP TO IMPROVE ACCESS OF WORKERS WITH 

DISABILITIES TO FINANCIAL CAPABILITY 

The low-income and economically vulnerable population that includes individuals with disabilities 

numbers over 100 million individuals and families nationwide. In 2012 and 2013, the CFPB Office of 

Financial Empowerment hosted two forums to examine the unique consumer financial product and 

service needs ofthis audience. 

In November 2012, the Office of Financial Empowerment held its first national conference where a key 

focus was the importance of federal collaboration to help people with disabilities better navigate the 

financial marketplace. The recent CFPB report, Empowering Lo11· income and Economicallv Vulnerable 

Consumers identifies strategies to better understand the needs of economically vulnerable populations and 

creates products that fit those needs. It identifies incentives for participation in the mainstream financial 

system, suggests means for improved access to affordable credit, and discusses accessible technology 

solutions that work for low-income consumers. On November 14, 2013 , leaders from the disability 

community met with the director ofthe CFPB and senior staff to share their specific concerns and needs. 

ODEP, through its work with the LEAD Center is testing different strategies that leverage the resources of 

local American Job Centers (AJCs) in two cities to connect customers with and without disabilities to 

information and services to enhance their gain financial capabilities. On the national level, the LEAD 

Center promotes economic advancement strategies via a series of free webinars on topics including free 

tax preparation services, financial education resources for AJCs, and using work incentives to build 

financial stability. These webinars inform workforce professionals and jobseekers with disabilities about 

relevant no-cost community resources to advance financial capability. With the ODEP-funded National 

LEAD Center, we will collaborate to test interventions at the community level to help evaluate financial 

capability training programs and materials targeted at the workforce system and community-based 

organizations. We will identify programs and materials for adoption nationwide. As capacity and 

financial knowledge grow at the individual and systems levels, we will look to the workforce 

development system, to community-based organizations, and to the disability community to identify best 

practices in order to bring to scale these strategies nationwide. 

ACTION REQUESTED: 

Help your constituencies learn more about building their own financial capability as an important 

complement to employment goals and participation in the economic mainstream. To learn more about the 

agencies and partners promoting pathways to economic stability for workers with disabilities, visit: 

• Consumer Financial Protection Bureau: www.consumerfinance.gov 

• Office ofDisability Employment Programs: http://www.dol.gov/odep/ 

• LEAD Center: www.leadcenter.org 

August 2014 3