December 13, 2012, Manhattan. Financial responsibility and risk have shifted from institutions and businesses to individual households over the last three decades. This trend, accelerated by recent state budget cutbacks in social service programs, means many families are left to navigate a more complex system on their own. Can cities use technology and policy innovation to bridge the gap? How are philanthropy and non-profit networks promoting new structures to enable hard working families to meet these challenges?

The program co-hosted by The New America Foundation and The Financial Clinic focused on the impact of risk shifting and how financial development and asset-building tools are empowering families in New York and across the nation. The panelists were James Parrott, FPI’s Deputy Director and Chief Economist; Mae Watson Grote, Founder and Executive Director, The Financial Clinic; Chauncy Lennon, Program Officer, Ford Foundation; and Kristin Morse, Executive Director, New York City Center for Economic Opportunity. The moderator was Justin King, Federal Policy Liaison, Asset Building Program, New America Foundation.