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Industry Focus

Financials: Financial Literacy Month Comes to a Close

Industry Focus

The Motley Fool

Interview, Money, Consumergoods, Business, Businessnews, Ceo, Technology, Investing, Stocks, Energy, Fool, Financial, Economy, Healthcare, News, Banking, Motley, Tech, Business News, Investments

4.6854 Ratings

🗓️ 29 April 2019

⏱️ 33 minutes

🧾️ Download transcript

Summary

In addition to earnings season, we’re also in the final days of financial literacy month. April is financial literacy month, so in this episode of Industry Focus: Financials, Fool.com contributor Matt Frankel, CFP sat down with Elizabeth Overbay, Chief Operating Officer of Goldman Sachs’ (NYSE: GS) consumer banking division and Dustin Cohn, Head of Brand and Marketing Communications for Marcus by Goldman Sachs to talk about the problem of financial literacy in America and what they’re doing to fix it. Plus, Frankel and host Jason Moser discuss first-quarter results from fintech heavyweights Visa (NYSE: V) and PayPal (NASDAQ: PYPL), and as always, let listeners know what stocks they’re watching this week.

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Transcript

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0:00.0

Welcome to Industry Focus, the podcast that dives into a different sector of the stock market each day.

0:07.0

It's Monday, April 29th. I'm your host Jason Moser on today's show we've got some more earnings to get to as always we'll have one to watch

0:14.4

we even have a nice tweet to read out but we begin this week with another installment

0:19.2

of Between Two Fools Elizabeth Overbay is C.O.O. of Goldman Sachs's consumer banking division,

0:25.1

including Marcus by Goldman Sachs and Clarity Money. Dustin Cohn is the head of

0:30.1

brand and marketing communications for Marcus by Goldman Sachs.

0:34.0

As Financial Literacy Month here in April Winesdown, our own Matt Frankel sat down to talk with both

0:39.4

of them recently about the problems with Financial Literacy in America today and how Marcus is trying to be a part of the solution.

0:48.2

Thank you for joining our podcast on Financial Literacy Month of all times.

0:54.2

So does the Marcus team see Financial Literacy as a major problem in the U.S.

0:59.2

and other, aside from creating its financial products, what is Marcus doing to address the problem

1:06.6

so it it is uh... a real opportunity uh... in terms of what markets by Bowman's fact can provide to consumers

1:14.4

uh... by way of education and there

1:17.2

there is a uh... a lack of information uh... out there and

1:22.1

if consumers are also a bit

1:24.9

ashamed uh... that they don't have all the answers and sometimes that

1:29.6

shame creates inertia and uh... they don't look around for their options you know even simple

1:35.9

things like a savings account you know we found through our proprietary research

1:40.0

that sixty percent of consumers don't know their interest rate and about the same

1:44.9

number never even shopped around when they opened up their savings count in the

1:48.6

first place and you know as we all know there are some pretty pretty big uh... bank out there that are offering you know as little at

1:55.4

point zero three percent

...

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