FROM THE OFFICE OF PUBLIC AFFAIRS

February 18, 2005
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Deputy Assistant Secretary Iannicola Delivers Keynote Address at the National Black Caucus of States Institute Financial Literacy Symposium

Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. today delivered a keynote address at the National Black Caucus of States Institute's first National Symposium on Financial Literacy.  Iannicola was presented with the Institute's Pillar of Excellence Award, which is awarded to individuals and organizations who have built a foundation for improving financial literacy throughout the country and in African American communities. 

Iannicola highlighted the importance and timeliness of the Institute's efforts in working to provide state legislators with relevant data about current financial education levels in African American communities.  He also congratulated the group for holding its first symposium on financial literacy and on announcing its new initiative, "Saving Black America, One Account at a Time."

Iannicola talked to the group about poverty and wealth and how financial education can change lives for the better.  "Financial knowledge can be a strong force for personal empowerment.  By saving, by investing and by learning more about his or her own finances, everyone can find a place in an ownership society.  The campaign launched today will spread this important message across America."
 
The National Black Caucus of States Institute (NBCSI) is non-profit organization.  The Organization's primary mission is to develop, conduct and promote educational research and training programs designed to enhance the effectiveness of its members as they consider legislation and issues of public policy impacting African American constituents. The NBCSI formed a Financial Literacy Task Force to work with financial and educational institutions, the financial services industry, community, civic and faith-based organizations and policymakers.  The Task Force's focus is on identifying solutions to existing barriers to self-sufficiency and wealth-building in the African American community.  
 
The National Symposium on Financial Literacy is a one-day meeting to present and discuss major issues, legislation, developments, partnerships and next steps for improving access, programs and policies regarding financial literacy in the African American community.
 
The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education in May of 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning.  The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States.  For more information about the Office of Financial Education visit: www.treas.gov/financialeducation.

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