Search
 

Cordray Says Financial Literacy in Crisis: Onsite Coverage

Two-hour hearing includes credit union witnesses.

By Michael Muckian | Updated on September 25, 2013
Royal Credit Union's Jennifer Block, former RCU school branch student employee Alex Martinez and the NCUF's Lois Kitsch testified at the event.

America has fallen woefully behind in providing adequate financial education to students and families, especially when it comes to student loans. Recent progress by government agencies, financial institutions and schools themselves is making up for lost time, but many college graduates still face significant student loan debt that could affect their lives for decades to come.

That message formed the focal point of an open hearing Wednesday by the Financial Literacy and Education Commission, a division of the U.S Department of Treasury, on the University of Wisconsin-Madison campus. The event drew participants from the public and private sectors to discuss the need for greater financial literacy, a situation that may have reached crisis proportions in the effect its having on individuals, families and the nation at large, according FLEC Vice Chair Richard Cordray, director of the Consumer Financial Protection Bureau.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.