For Immediate Release: For More Information, Contact:
January 22, 2008 David Casserly, Assistant Director,
Jump$tart Coalition 202-466-8604
Jump$tart Executive Director Appointed to President’s Council on Financial Literacy
President Bush and Secretaries Paulson, Jackson and Cabral
Announce New Council in White House Ceremony
Washington, DC…President George W. Bush today signed an executive order that established the President’s Advisory Council on Financial Literacy within the U.S. Department of Treasury. Laura Levine, executive director of the Jump$tart Coalition® for Personal Financial Literacy, has been appointed to the Council and was at the White House for the announcement today. Cabinet Secretaries Henry M. Paulson, Jr. (Treasury), Alphonso Jackson (Housing and Urban Development), and Anna Cabral (Treasurer of the U.S.) also participated in making the announcement.
Several Jump$tart Coalition national board members and partners were also appointed to the council, including: Ted Beck, president and CEO, National Endowment for Financial Education; Robert Duvall, president and CEO, National Council on Economic Education; Mary L. Schapiro, CEO, FINRA; Charles Schwab (appointed chairman of the council), Charles Schwab & Company, Inc.; John Bryant (appointed vice chairman of the council), chairman and founder, Operation HOPE, Inc.; David Mancl, Wisconsin State Jump$tart Coalition, Wisconsin Department of Financial Institutions; and Ted Daniels, Society for Financial Education and Personal Development.
“President Bush’s attention to the financial literacy effort has elevated its importance to a level that we could not have otherwise attained. Jump$tart applauds his leadership in this area,” said Levine. “I’m honored to have this opportunity to serve and to improve financial literacy for all Americans—especially our youth.”
“I’m excited that the president has seen the intrinsic value of personal financial literacy,” said H. Randy Lively, Jr., chairman of the board of the Jump$tart Coalition, “and the importance it will play in our increasingly complex economy. This is an important moment in the evolution of the financial literacy movement.”
According to the executive order, the council will “help keep America competitive and assist the American people in understanding and addressing financial matters...” Its duties, among others, will include, to:
√ Improve financial education efforts for youth in school and for adults in the workplace;
√ Promote effective access to financial services, especially for those without access to such services;
√ Establish effective measures of national financial literacy;
√ Conduct research on financial knowledge, including the collection of data on the extent of financial knowledge of individuals; and
√ Strengthen and coordinate public and private sector financial education programs.
The Jump$tart Coalition is a Washington, DC-based 501-c-3 organization of nearly 180 national partners and a network of 48 affiliated state organizations that conduct or support financial education for students in kindergarten through college. Jump$tart is dedicated to improving the financial literacy of kindergarten through college-age youth by providing advocacy, research, standards and educational resources, and strives to prepare youth for life-long successful financial decision-making.
Jump$tart Coalition for Personal Financial Literacy