Posted by Michael Barr on October 15, 2010 at 05:01 PM EDT
Empowering Americans to make good financial decisions for themselves and their families is necessary to building a financially stronger America. To meet this goal, we must improve Americans’ understanding of financial products and terms, expand financial access, and provide appropriate and robust consumer protection. President Obama is committed to building a country in which more families have the knowledge, skills, and financial access to make good financial choices and to establishing the consumer protections that enable and encourage them to do so.
As part of this commitment, President Obama issued an Executive Order <http://www.whitehouse.gov/the-press-office/executive-order-presidents-advisory-council-financial-capability> establishing the President’s Advisory Council on Financial Capability (“Council”) and appointed a highly qualified group of men and women from the private and non-profit sectors to advise him on these critical issues. The Council, which will work at the direction of Treasury Secretary Tim Geithner, will advise the President on how to maximize the effectiveness of existing private and public sector financial education efforts and identify new approaches to increase financial capability for all Americans.
Read the rest of the article on the White House website here.