Alert July 28, 2009

FDIC to Explore Prize-Linked Savings

The FDIC Advisory Committee on Economic Inclusion will meet on Thursday, July 30th, to discuss prize-linked savings concepts, as well as how to improve underserved and low- and moderate-income consumers’ access to banking services. More specifically, the Committee will look at how game-based incentives to encourage saving (so-called “prize-linked savings,” such as sweepstakes and rewards) can promote long-term saving, particularly among lower-income consumers. The Committee will explore a number of innovations, including how to leverage state lottery participation to promote long-term saving. The meeting will be open to the general public and will be held from 8:45 a.m. to about 12:30 p.m. in the FDIC Board Room, located on the sixth floor of the FDIC headquarters building at 550 17th Street, N.W., Washington, DC. The meeting can be viewed live via Webcast at http://www.vodium.com/goto/fdic/advisorycommittee.asp. Click here for the meeting agenda and background materials.