House Recognizes Financial Literacy Month

APRIL 7, 2006

WASHINGTON, DC - Congressman David Dreier (R-San Dimas,CA), Chairman of the House Rules Committee, voted this week to encourage increased financial literacy amongst Americans. H.Res. 737, Supporting the Goals and Ideals of Financial Literacy Month, was approved by the House with broad bipartisan support,423-1.

"As we enter the 21st Century, more Americans have access to financial services and products than ever before," Dreier said. "With the click of a button, consumers can perform a variety of financial activities over the Internet, from paying bills to managing investments. To ensure that Americans are able to take advantage of these financial opportunities, it is imperative that we develop a solid foundation in personal finance and that these lessons are reinforced throughout life."

Dreier pointed to work of the Financial Literacy and Education Commission, established by Congress in 2003, which has already made great strides toward enhancing financial literacy for all Americans. The Commission established a web site, www.mymoney.gov, and a toll free hotline 1-888-my money, to provide access to educational materials from across the spectrum of federal agencies that deal with financial issues and markets. Earlier this week, the Commission launched a national strategy to enhance financial literacy for all Americans. A major part of implementing the strategy is the use of public service campaigns to raise awareness amongst the American people. The Commission’s national strategy report states: "This multi-media campaign will be an integral part of the strategy for raising public awareness of the importance of the issue and for informing Americans about where they can obtain high-quality, timely information on a wide variety of financial issues." State Dreier, "Put simply, financial literacy is about opportunity. It is about empowering individuals to make informed financial decisions, helping them to attain financial independence and future prosperity. Working together, we can ensure that all Americans gain a fundamental understanding of personal finance to help them succeed in life."

"As we enter the 21st Century, more Americans have access to financial services and products than ever before," Dreier said. "With the click of a button, consumers can perform a variety of financial activities over the Internet, from paying bills to managing investments. To ensure that Americans are able to take advantage of these financial opportunities, it is imperative that we develop a solid foundation in personal finance and that these lessons are reinforced throughout life."