The Consumer Financial Protection Bureau opened its doors less than six years ago. Our mission is to stand on the side of consumers and ensure they are treated fairly in the financial marketplace. Through fair rules, consistent oversight, appropriate law enforcement, and broad-based consumer engagement, we are working to restore trust and confidence in the markets for household financial products and services.
Thank you all for being here. I always look forward to the meetings of our Financial Literacy and Education Commission. Each time we gather, our discussions reaffirm my belief that for this country to prosper, sound financial education must be one of the foundations we work to strengthen, for people young and old.
Good morning. I am glad to welcome everyone here to the Financial Literacy and Education Commission for our first meeting of the year. The commission continues to be a valuable forum for promoting financial literacy and a catalyst for improving the financial well-being of consumers.
We are glad to welcome the Department of the Interior to their first meeting as a member of the Commission. Today we are releasing the 2016 National Strategy for Financial Literacy. The report provides the Commission and everyone working in the field of financial education with an important framework for promoting financial education. It also highlights important progress that has been made towards the goals that were outlined in the previous strategy from 2011.
I welcome our Community Bank Advisory Council and we are happy to see all of you. Today we will talk about promoting financial education among consumers, especially young people, and about our new proposed rule on debt collection. I look forward to hearing your thoughts and concerns as we discuss these and other issues.
Today we are pleased to announce two new pieces of
work in the field of financial education. First, we are issuing a new report
discussing a development model that identifies the building blocks our young
people need to achieve financial capability at different stages of their growth
and maturity. Second, we are releasing a teaching tool that we call a “personal
finance pedagogy.” This tool will help support teachers in more effectively
delivering financial education to their students. The Consumer Bureau believes
that these new resources will prove valuable for anyone working to promote
youth financial education.