Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CFPB should collaborate on financial ed efforts CUNA
WASHINGTON (11/2/12)--The Consumer Financial Protection Bureau should work closely with other federal agencies that are currently pursuing financial literacy efforts in order to reduce government redundancies as well as to make it easier for consumers to access reputable sources of information on financial issues.

Those are key recommendations made by Credit Union National Association (CUNA) in a comment letter sent to the CFPB on Oct. 31.

CUNA, in a letter by Assistant General Counsel Luke Martone, noted that emotions and outside influences are among the common challenges that often prevent consumers from making effective financial decisions.

"Specifically, the ability to exhibit proper self-control is a major challenge for many consumers. Similarly, we believe many consumers struggle to accurately understand how today's financial decisions will impact tomorrow's financial position,'' CUNA wrote.

In addition, a major challenge is that "those with the greatest need for financial education are the ones with the least amount of available time to pursue such efforts.''


RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
3 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
5 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
6 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
8 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
9 hours ago