WASHINGTON (6/28/13)--The Obama Administration this week announced a new President's Advisory Council on Financial Capability for Young Americans to help young people "get the skills and knowledge they need to pursue successful careers and contribute to the nation's economy."
"Experience shows that a sound financial footing early in life is important to building wealth and establishing financial security. This new council will advise the president and his administration on ways to improve the financial skills of young Americans so that they can make smart decisions about going to college, using financial products, and even saving for their retirement," U.S. Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri said in a release.
The new advisory group will be led by the Treasury. The group will build on the work of the President's Advisory Council on Financial Capability.
Private, public, and nonprofit sector innovators will be invited to serve on the council. Treasury Secretary Jack Lew, Education Secretary Arne Duncan and Consumer Financial Protection Bureau Director Richard Cordray will also take part.
Additional council members will be announced soon, and the first council meeting will be held later this year, the Treasury release said.
For more on the council, use the resource link.