Working Cars for Working Families: Real Progress, Real Opportunities

On October 10, 2010, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of Richmond and the National Consumer Law Center, with the support of the Annie E. Casey Foundation, hosted a forum titled “Working Cars for Working Families: Real Progress, Real Opportunities.” This event focused on efforts to provide working families the opportunity to access safe and reliable vehicles, under fair terms. Panelists discussed the importance of car access in improving economic outcomes for families. Struggling families, however, are facing multiple-barriers to vehicle ownership; barriers created by the recession-era car market and current financing regulations. Despite these challenges, the forum noted solutions in the form of policy changes, market-improvements, and the emergence of successful nonprofit ownership programs.