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Washington Archive

Washington

White House group explores consumer financial issues

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WASHINGTON (3/15/10)—The White House last week held a financial capability meeting intended to seek ways to increase American’s access to safe, affordable financial institution accounts and to increase consumer awareness and core competencies in understanding and managing personal finances. The meeting, held under the auspices of the President's Advisory Council on Financial Capability and Senior Advisor to the President Valerie Jarrett, gathered key advocacy organizations and other financial services representatives from around the country. The administration is planning soon to ask for comments through the Federal Register on developing a national strategy to promote financial capability for consumers of all income levels, representing diverse cultural, educational and age groups. Represented at the meeting were the National Credit Union Administration, the Credit Union National Association (CUNA), the Financial Services Roundtable, the American Bankers Association Foundation and an array of governmental, charitable, community, business and financial organizations. Addressing the group wereDeputy Treasury Assistant Secretary for Financial Education and Financial Access Michelle Greene; White House Office of Public Engagement Director Tina Tchen; U.S. Department of Education Deputy Chief of Staff Mathew Yale, Deputy and Elizabeth Vale, also of the White House Office of Public Engagement. CUNA's Deputy General Counsel Mary Dunn and NCUA's Director of the Office of Consumer Protection Kent Buckham were the credit union representatives at the meeting.