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News Now

Washington
Johnson to testify on CU Fin. Ed. efforts
WASHINGTON (4/10/08)--National Credit Union Administration Chairman JoAnn Johnson, along with other financial services regulators and private sector representatives, is slated to testify next Tuesday on financial literacy initiatives. The House Financial Services Committee scheduled the April 15 hearing to look at the effectiveness of both public and provide efforts to better educate the American public regarding financial options and decisions. “Learning to manage one’s spending is the most important thing an individual can do to ensure their family’s financial future. Unfortunately, too many Americans right now are struggling with unmanageable mortgage payments, credit card debt, and out-of-control spending habits,” said panel member Rep. Reuben Hinojosa in a committee release announcing the hearing. Hinojosa noted that the hearing is part of an on-going effort to discover what financial literacy programs work and to find ways to incorporate financial education into the classroom and into the day-to-day lives of consumers. “It will be a detriment to our nation’s economic future if so many Americans continue to mismanage their money, credit, and debt,” the Texas Democrat said. A full list of witnesses was not yet available.
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