April 27, 2006
JS-4213

Treasury Officials To Speak at Chicago Fed
on Reaching 10 million Unbanked Americans

U.S. Treasurer Anna Escobedo Cabral and Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. will speak at the Federal Reserve Bank of Chicago on Monday, May 1.  The Treasury officials, U.S. Rep. Judy Biggert and JoAnn Johnson, chairman of the National Credit Union Administration, will also participate in a discussion at the Financial Literacy and Education Commission's regional conference to address the problems faced by the unbanked.

More than 10 million unbanked Americans do not have accounts at mainstream financial institutions, making them more likely to pay extraordinarily high fees for basic services and less likely to save for the future.  Bringing unbanked Americans into the financial mainstream is a key part of the Commission's strategy for financial literacy.

Treasury Secretary John Snow and the Treasury officials recently launched the Commission's national strategy to improve America's financial literacy, available at www.mymoney.gov.

Who:             
U.S. Treasurer Anna Escobedo Cabral
Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr.

What:           
Financial Literacy and Education Commission
Midwest Regional Conference on Reaching Unbanked People

When:           
Monday, May 1   10:30 a.m. (CDT)

Where:         
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, IL