Why do consumers make the choices they do? Why buy one jacket, but pass on another? Why invest in one bond, but not the latest Silicon Valley IPO? In the end, what governs reckless financial behavior, even at the expense of rationality and profitability?
To those who agree that traditional approaches to financial education have generally failed, the newly created Consumer Credit Research Institute is a timely endeavor.
Encore Capital Group (NASDAQ: ECPG) today announced the launch of the Consumer Credit Research Institute (CCRI). The CCRI is a research organization dedicated to better understanding financially distressed consumers’ decisions, choices, and activities in order to promote financial literacy, create new knowledge about this growing segment of the population, and develop innovative ways to support household financial recovery.