The Consumer Bankers Association and AOL launched a finance optimism index on Monday to gauge American consumers’ attitudes towards personal finance.
AOL and the CBA have conducted research over the past year in an effort to better understand consumer attitudes towards their financial situation. The ongoing collaborative effort seeks to identify various influences on consumer sentiment.
“This new project with AOL represents an opportunity to understand the current personal finance attitudes of American consumers,” CBA President and CEO Richard Hunt said. “No other index is providing this unique information, which will help our members and the retail banking industry anticipate consumer needs and concerns.”
In February, the CBA-AOL index fell 6.6 points to reach -2.6, driven primarily by a less positive perception of personal finance news—gas prices increased and the stock market saw a slow start at the beginning of the month.
“Our partnership with the CBA on the Finance Optimism Index will bring actionable insights to increase the level of financial optimism in this country,” Paul Kadin, the head of category development at AOL, said. “The Index will be a valuable resource for banks’ financial education and marketing initiatives.”