Consumer Financial Protection Bureau (CFPB): Update – New Practitioner Toolkit for Sharing Financial Resources Among Family and Friends

June 12, 2021

We previously sent you an email with information about the Bureau’s newly released Friends and Family Exchanges Toolkit. We’ve updated the link to share the most up to date information.

As a result of COVID-19, borrowing and lending money to family and friends is increasingly common. These types of financial arrangements are known as family financial exchanges (FFEs).

To support practitioners helping clients through these sensitive conversations, the Bureau released the Friends and Family Exchanges Toolkit, a four-part guide for coaching clients in asking for financial help or changing an existing agreement due to their own financial hardship.

The Friends and Family Exchange Toolkit includes:

  • Assessment worksheets to learn about the client’s situation
  • Coaching tools for financial conversations and agreements
  • Action steps for starting a new or changing an existing arrangement
  • Examples of different types of financial exchanges

While we don’t necessarily encourage or discourage these arrangements, we recognize that they’re commonplace. Our resource is designed to provide you with the tools you need to help clients through these conversations and to empower them to make informed decisions based on their situation.View our practitioner guide to giving and receiving financial support during an emergency.