FROM THE OFFICE OF PUBLIC AFFAIRS

June 30, 2004
JS-1760

Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. Visits Pittsburgh, Pennsylvania To Lead Financial Education Roundtable at Federal Reserve Branch

Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. today led a roundtable discussion on financial literacy and education at the Federal Reserve Branch in Pittsburgh, Pennsylvania.  Representatives from The Financial Education Consortium, a coalition of financial institutions, nonprofit organizations and government agencies, gathered to exchange expertise about best practices and coalition-building efforts to promote financial literacy in Pittsburgh and throughout Western Pennsylvania.

The Financial Education Consortium focuses Western Pennsylvania's financial literacy efforts through the information-sharing of best practices, development of a common financial education agenda and coordination of efforts among financial education providers.  Since June 2003, The Federal Reserve Branch in Pittsburgh has been coordinating the Consortium with Hosanna House, Neighborhood Housing Services of Pittsburgh, Pittsburgh Community Reinvestment Group and the Urban League of Pittsburgh.

"Because of the President's tax cuts, Pennsylvanians now have more money to manage.  Groups like the Financial Education Consortium help people manage that money better," said Iannicola. 

While in Pittsburgh, Deputy Assistant Secretary Iannicola also toured the Action Housing, Inc.'s facility and met with staff.  Action Housing's mission centers on assisting individuals secure affordable housing, asset building programs and educational and employment opportunities.  The "Building Blocks to Financial Success" program includes lessons on savings and budgeting, debt and credit management, banking loan and grants, taxes, insurance and basic financial planning.  The program allows eligible savers to receive matching funds if they complete required financial management training.   

The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education ("Office") in May 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.