Removing Barriers Blog

CUNA Attends Treasury’s Financial Literacy and Education Commission Meeting
Posted December 14, 2017 by CUNA Advocacy

This morning CUNA was in attendance at the Treasury’s Financial Literacy and Education Commission (the Commission) public meeting.

The Secretary of the Treasury, Steven Mnuchin, and the newly appointed Interim Director of the CFPB, Mick Mulvaney, were both on hand to open the meeting. The Secretary and Interim Director both discussed the need for financial education and the importance of starting at a young age.

In addition to Treasury and CFPB leadership, the White House was also represented by Ivanka Trump, the President’s oldest daughter. While she did not have a speaking role, her presence was noted and appreciated by the Commission.

During today’s meeting, attendees heard from Jason Brown, Director – Microecnomic Analysis, Office of Economic Policy at the Department of Treasury. In his presentation, Mr. Brown highlighted trends and issues surrounding household economic status, including the increase in outstanding student debt.

The Commission was established in 2003 under the Fair and Accurate Credit Transactions Act and is comprised of 19 federal agencies, including the NCUA. They were tasked with developing a national financial education website and a national strategy on financial education. CUNA will continue to work hand-in-hand with the Foundation to teach and encourage financial literacy for all Americans—truly living the credit union difference!