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Maryland governor signs financial literacy laws
ANNAPOLIS, Md. (5/12/09)--Maryland Gov. Martin O’Malley Thursday signed several credit union-supported legislative measures involving financial literacy. S.B. 500 would require Prince George’s County Board of Education to develop and implement a pilot program in three county high schools that includes a semester-long course in financial literacy. The bill was sponsored by State Sen. Anthony Muse (D-26). The bill also requires that a progress report be submitted to the Prince George’s County Senate and House delegations in the General Assembly, said the Maryland and District of Columbia Credit Union Association (MDDCCUA). Two other bills--S.B. 140 and H.B. 120--increase the membership of a Task Force to Study How to Improve Financial Literacy in the State and provide more staff. The bills also extend the task force’s reporting date to Dec. 1 and its termination date to June 30, 2010 (FOCUS Newsletter May 11). Witnessing the signing of the bills were Muse and three credit union representatives-- Chris Conway, Education Systems FCU, Greenbelt, Md., and MDDCCUA board member; Kalimah Matthews, Signal Financial FCU, Kensington, Md.; and Brian Tate, MDDCCUA vice president of legislative affairs. MDDCCUA said it would continue to support the financial literacy cause, and provide updates on the progress of the task force.
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