FROM THE OFFICE OF PUBLIC AFFAIRS

August 25, 2004
js-1876

Treasury Seeks Public Input in Development of National Strategy for Financial Education

Treasury's Office of Financial Education today announced a request for public comment on behalf of the Financial Literacy and Education Commission for development of the first-ever national strategy for financial education.

The Financial Literacy and Education Commission was established under Title V, the Financial Literacy and Education Improvement Act, which is part of the Fair and Accurate Credit Transactions Act of 2003 (P.L. 108-159). The Act calls for the establishment of a national financial education toll-free hotline and Web site, as well as the development of the country's first national strategy for financial education.

Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. leads the Commission's efforts to develop the national strategy. "All across America, dedicated groups and individuals are working to meet our country's need for financial education," said Iannicola. "Through this request for comment, we hope to learn from those who are making a difference in their communities by using financial education to improve lives. We'll use their insights to craft a sound national strategy to raise our country's level of financial knowledge."

The request for comment was filed at the Federal Register and will be published on August 26, 2004.

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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