CUNA Regulatory Comment Call

February 19, 2007

EXECUTIVE SUMMARY

• The Financial Literacy and Education Commission (Commission) is requesting comments on the subject of raising the financial literacy levels of kindergarten through postsecondary students. This request is issued in conjunction with the Commission’s two-day Summit on Kindergarten Through Postsecondary Financial Education, co-hosted by the U.S. Department of Treasury and Department of Education on February 21 and 22 in Washington, D.C.
• The Commission was established under Title V, the Financial Literacy and Education Improvement Act, which was part of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). The stated purpose of the Commission is to improve financial literacy and education of persons in the U.S. The Commission is chaired by the Secretary of the Treasury and is composed of the heads of 20 other federal agencies including: NCUA (Chairman JoAnn Johnson); the Department of Education; the Federal Reserve; the Federal Deposit Insurance Corporation (FDIC); the Small Business Administration (SBA); the Securities and Exchange Commission (SEC); and the Federal Trade Commission (FTC). The Treasury’s Office of Financial Education coordinates the efforts of the Commission.
• Comments are due to the Commission by April 12, 2007. Please send your comments to CUNA by March 29, 2007. Please feel free to fax your responses to CUNA at 202-638-7052; e-mail them to Deputy General Counsel Mary Dunn at mdunn@cuna.com or to Senior Regulatory Counsel Catherine Orr at corr@cuna.com; or mail them to Mary or Catherine in c/o CUNA's Regulatory Advocacy Department, 601 Pennsylvania Avenue, NW, 6th Floor - South Building, Washington, DC 20004. You may also contact us at 800-356-9655, ext. 6743, if you would like a copy of the Commission’s Comment Request, or you may access it here.

The Commission specifically requests feedback on the questions below. When appropriate, please cite specific examples to illustrate your responses to any of these questions.

1. What are some ways to overcome the challenges faced in bringing financial literacy programs into kindergarten through grade 12 classrooms?
   
   

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2. Are there unique problems encountered when trying to improve the financial literacy of postsecondary students?
   
   Yes ______ No ______
   
   If so, what are some ways to solve those problems?
   
   

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3. What are the essential elements of an effective teacher-training program for financial education?
   
   

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4. What should be the role of private sector companies in youth financial education?
   
   

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   What are the benefits and challenges of this type of involvement?
   
   

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5. What should be the role of not-for-profit organizations in youth financial education?
   
   

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   What are the benefits and challenges of this type of involvement?
   
   

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