April 11, 2006
JS-4175

US Treasury Official To Visit Midwest
To Discuss Outreach to 10 Million Unbanked Americans

Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. will continue his national tour for Financial Literacy month with a visit to Madison, Wisc. on Thursday, April 13. Iannicola will discuss the strategy for improving financial literacy in America and reaching out to the unbanked.  Joann Johnson, chairman of the National Credit Union Administration (NCUA), will speak about credit unions' role in bringing Americans to the financial mainstream.

More than 10 million unbanked households in America do not have accounts at mainstream financial institutions and must pay extraordinarily high fees for basic financial services.  Chapter eight of the National Strategy discusses issues facing this population and ways to bring them into the financial mainstream.

Last week, Treasury Secretary John Snow joined Iannicola, U.S. Treasurer Anna Cabral, Members of Congress and leaders of federal agencies as they released the Financial Literacy and Education Commission's strategy to improve financial literacy in America.  Their plan, titled Taking Ownership of the Future: The National Strategy for Financial Literacy, is available at www.mymoney.gov.

Who:              
Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr.

What:           
Keynote Address on Strategy for Banking the Unbanked

When:           
Thursday, April 13  

Remarks
12:45 p.m. (CST)

Where:         
CUNA International Building
5810 Mineral Point Road
Room IC3
Madison, Wi