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Washington
Financial advisory council sets Nov. 8 meeting
WASHINGTON (10/26/11)--The President's Advisory Council on Financial Capability, created by executive order in 2010 to work to increase the financial literacy of the American public, will meet  on Nov. 8 at 10:30 a.m. (ET), the Federal Register reported.

The meeting will take place at U.S. Treasury headquarters in Washington. It is the fourth meeting of the council, which was founded in January 2010. The council is set to disband in late January if it is not extended by another executive order.

The council during the meeting will receive reports on the progress of its subcommittees on financial access, research and evaluation, partnerships, and youth, and will review subcommittee membership. The council will also hear from outside experts about youth financial capability and the use of technology in improving financial capability during the meeting, according to the Federal Register.

The council during the meeting will also review public comment on its recently released principles for recommendations.

Those principles are:

  • To provide recommendations that can be practically and quickly implemented and judged for their effectiveness in changing behavior;
  • To align with, consolidate and boost, rather than supplant, existing efforts of the private, for-profit, non-profit, and governmental sectors;
  • To remain consistent with the latest findings in behavioral economics;
  • To address issues impacting both the general population and smaller groups, including women, minorities, low and moderate income consumers, and the elderly; and
  • To leverage the use of technology to engage, inform, and impact behavior.
 

The advisory council has been tasked with advising President Barack Obama on ways to promote and enhance overall financial literacy, financial education efforts, and the general understanding of how to effectively use financial products. Defense Credit Union Council (DCUC) President/CEO Roland "Arty" Arteaga is one of the twelve members of the advisory council.

For more on the upcoming meeting and the council, use the resource links.
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