Resources

 

Executive Branch Financial Literacy Initiatives:

Financial Literacy and Education Commission (FLEC)

FLEC is a federal commission comprised of representatives from federal agencies that meets quarterly to discuss financial literacy activity of the federal government. The commission was created by Congress in the Fair and Accurate Credit Transactions Act of 2003. It is chaired by the Secretary of the Treasury and the vice chair is the Director of the Consumer Financial Protection Bureau. The nineteen federal agencies that make up the commission are:

  •  the Office of the Comptroller of the Currency;
  • the Federal Reserve;
  • the Federal Deposit Insurance Corporation;
  • the National Credit Union Administration;
  • the Securities and Exchange Commission;
  • the Departments of Education, Agriculture,
  • Defense, Health and Human Services, Housing and Urban Development, Labor, and Veterans Affairs;
  • the Federal Trade Commission;
  • the General Services Administration;
  • the Small Business Administration;
  • the Social Security Administration;
  • the Commodity Futures Trading Commission;
  • the Office of Personnel Management;
  • the White House Domestic Policy Council
  • and its newest member, the Federal Emergency Management Agency

MyMoney.gov

The website produced by FLEC partners, www.mymoney.gov, is a comprehensive, one-stop-shop for federal financial literacy resources. Creation of the site was Congressionally mandated in the 2003 Fair and Accurate Credit Transactions Act.

 
Composed of non-governmental representatives with relevant backgrounds, such as financial services, consumer protection, financial access, and education, the Council was tasked with suggesting ways to coordinate and maximize the effectiveness of existing private and public sector efforts and identify new approaches to increase financial literacy through financial education and financial access. The Council ended on January 29, 2013 and published a well-recieved final report with actionable recommendations for governments, community organizations, and private partnerships to help improve the financial literacy of Americans.