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May 23, 2017
NAFCU at financial literacy meeting at Treasury today
NAFCU Regulatory Affairs Counsel Ann Kossachev today will be at the Treasury Department for a public meeting of the Financial Literacy and Education Commission, which will discuss the Federal Reserve's fourth annual Survey of Household Economics and Decisionmaking (SHED) report.
The report, issued last week, showed a mixed economic recovery as of October 2016, with 23 percent of adult respondents unable to pay all monthly bills in full.
Commenting on the report, NAFCU Chief Economist and Director of Research Curt Long said, "The financial recovery has been uneven. While many families who suffered during the recession are now back on their feet, others continue to struggle. Credit unions provide a critical source of financial services and credit to the members that they serve."
Also during today's meeting, the commission will discuss financial literacy within the Program for International Student Assessment and how the U.S. is improving financial education outcomes.
Today's meeting begins at 9 a.m. Eastern. The event will be live streamed.
The commission, chaired by Treasury Secretary Steven Mnuchin and vice-chaired by CFPB Director Richard Cordray, is also made up of the heads of 19 additional federal agencies, including the NCUA.
The report, issued last week, showed a mixed economic recovery as of October 2016, with 23 percent of adult respondents unable to pay all monthly bills in full.
Commenting on the report, NAFCU Chief Economist and Director of Research Curt Long said, "The financial recovery has been uneven. While many families who suffered during the recession are now back on their feet, others continue to struggle. Credit unions provide a critical source of financial services and credit to the members that they serve."
Also during today's meeting, the commission will discuss financial literacy within the Program for International Student Assessment and how the U.S. is improving financial education outcomes.
Today's meeting begins at 9 a.m. Eastern. The event will be live streamed.
The commission, chaired by Treasury Secretary Steven Mnuchin and vice-chaired by CFPB Director Richard Cordray, is also made up of the heads of 19 additional federal agencies, including the NCUA.
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