Community Dividend

President Bush creates financial literacy advisory council

Published May 1, 2008  | May 2008 issue

In an effort to make financial education a national priority, President George W. Bush established the President's Advisory Council on Financial Literacy on January 22. As laid out by President Bush and U.S. Treasury Secretary Henry Paulson, the goals of the council are to expand Americans' access to financial services, increase financial education for youth and adults, and promote research to measure the nation's level of financial literacy.

The council comprises 16 members who represent the various sectors involved in the delivery of financial education, such as the military, academia, nonprofit organizations, financial institutions and their regulators, and faith-based organizations. Charles Schwab of the Charles Schwab Corporation was named chairman of the council. John Bryant, CEO of Operation HOPE, Inc., was named vice chairman. The council held its first meeting on February 13 and will next meet on June 18. Prior to the June meeting, the council will name a liaison to the Financial Literacy and Education Commission, which was established by Congress in 2003 and released a national strategy for financial education in 2006.