[Congressional Record Volume 153, Number 62 (Wednesday, April 18, 2007)]
[Extensions of Remarks]
[Pages E779-E781]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      SUPPORTING THE GOALS AND IDEALS OF FINANCIAL LITERACY MONTH

                                 ______
                                 

                               speech of

                          HON. RUBEN HINOJOSA

                                of texas

                    in the house of representatives

                         Monday, April 16, 2007

  Mr. HINOJOSA. Mr. Speaker, I submit the following letters regarding 
H. Res. 273, ``Supporting the Goals and Ideals of Financial Literacy 
Month.''


                                           Girls Incorporated,

                                     New York, NY, April 12, 2007.
     Hon. Ruben Hinojosa,
     House of Representatives,
     Washington, DC.
     Hon. Judy Biggert,
     House of Representatives,
     Washington, DC.
       Dear Representative Hinojosa and Representative Biggert: 
     Girls Inc. is proud to join you in supporting H. Res. 273, 
     and the ideals and goals of Financial Literacy Month. 
     Financial education is critical to ensuring that individuals 
     gain the skills necessary to assess financial opportunities 
     and successfully manage their money. We applaud you for your 
     leadership on this important bill.
       Through our affiliates across the country, Girls Inc. 
     teaches girls and their families important finance skills 
     that help them to understand topics such as banking, saving, 
     and investments, thus helping their future economic security, 
     success, and well-being. We believe girls in particular 
     benefit from opportunities to learn these essential skills. A 
     survey we conducted in 1998 of teenage daughters and their 
     mothers, found that the

[[Page E780]]

     number one concern of mothers was they would not have enough 
     money at one point in their lives. Other surveys have shown 
     that girls are less likely than boys to consider themselves 
     ``very knowledgeable or confident'' about financial issues 
     and money management. Economic and financial literacy is 
     critical to helping girls plan for and achieve economic 
     independence.
       We thank you for your commitment to this issue and your 
     understanding of the necessity of such a bill as H. Res. 273.
           Sincerely,
                                                   Joyce M. Roche,
                                                President and CEO.


     
                                  ____
                            First Nations Oweesta Corporation,

                                   Rapid City, SD, April 11, 2007.
     Hon. Ruben Hinojosa,
     House of Representatives,
     Washington, DC.
     Hon. Judy Biggert,
     House of Representatives,
     Washington, DC.
       Dear Representatives Hinojosa and Biggert: The Native 
     Financial Education Coalition (NFEC) and First Nations 
     Oweesta Corporation (Oweesta) strongly support your efforts 
     to officially designate April as ``Financial Literacy 
     Month''. As the national voice advocating for stronger 
     personal financial management skills among Native peoples, 
     the NFEC urges Congress to pass the bi-partisan H. Res. 273 
     as a step toward raising awareness and spurring action toward 
     better financial education in Native communities across the 
     country.
       Native communities across the board are lacking in 
     financial education skills, which directly relates to the 
     poverty and other social ills that often define Native 
     peoples in the eyes of others. For example, Native 
     communities are a hotbed for predatory lenders because Native 
     people do not have the skills or awareness to understand the 
     financing and credit process sufficiently, and a large 
     percentage of our families are among the unbanked. We do not, 
     however, have to let this situation define us and our 
     involvement in Financial Literacy Month over the years is one 
     way of taking control of our own lives and moving towards 
     economic sovereignty.
       The NFEC and Oweesta believe so strongly in this issue that 
     this month, on April 26th, we will host the 3rd Annual Native 
     Financial Education Policy Briefing in Washington, DC for 
     lawmakers, staffers, Native leaders and others interested in 
     Native financial education. In the past we have intentionally 
     held the Briefing in April to commemorate Financial Literacy 
     Month and see a real benefit to making it officially 
     recognized as such. We commend you for your leadership on 
     this issue and look forward to continuing our work together 
     to make financial education a reality for all Native 
     communities.
           Sincerely,
                                                      Elsie Meeks,
           Executive Director, First Nations Oweesta Corporation, 
     Chairperson, Native Financial Education Coalition.
                                  ____


                                         North American Securities


                             Administrators Association, Inc.,

                                    Washington, DC, April 6, 2007.
     Hon. Ruben Hinojosa,
     Washington, DC.
     Hon. Judy Biggert,
     Washington, DC.
       Dear Congressman Hinojosa and Congresswoman Biggert: On 
     behalf of NASAA thank you for introducing H. Res. 273, which 
     supports the goals and ideals of Financial Literacy Month. 
     State securities regulators have a long tradition of 
     protecting investors through education, and most have 
     established an investor education department within their 
     regulatory agency. Several of NASAA's Investor Education 
     Section's current activities include: personal finance, 
     investor and fraud prevention education on military 
     installations; empowering senior citizens to spot, stop and 
     avoid financial scams and several initiatives designed to 
     teach youth the value of sound investing principles. Whether 
     offering students the opportunity to understand the workings 
     of Wall Street through the InvestEd stock market game, 
     sponsoring an essay contest on how investing can create 
     financial independence in South Dakota, or reaching out to 
     teens in New Jersey through a Consumer University that 
     teaches investing, regulators are connecting with youth 
     across the country.
       As part of the effort to educate our nation's youth, in 
     April, state securities division staffs will join in 
     celebrating ``Financial Literacy Month'' by visiting schools 
     throughout their state to teach students about personal 
     finance, the capital markets, investment choices and fraud.
       Reaching out to our young citizens is just one component of 
     the ongoing financial education effort undertaken by state 
     securities regulators. We are dedicated to improving 
     financial literacy for our constituents of all ages, 
     recognizing that financial education has a direct impact on 
     the economic health of our families, communities, states and 
     this country overall. This year NASAA will be launching a new 
     investor education podcast series as part of Financial 
     Literacy Month. The series, ``The Alert Investor,'' is a 
     resource for the public to learn about investing wisely, 
     avoiding fraud and how to exercise their rights as investors.
       We commend you for your continued efforts to draw attention 
     to the importance of financial literacy programs, and NASAA 
     looks forward to participating in Financial Literacy Day on 
     Capitol Hill. Please contact Daphne Smith, Tennessee 
     Securities Commissioner and Chair of NASAA's Investor 
     Education Section, or Deborah House in NASAA's corporate 
     office if we may be of further assistance to you. We look 
     forward to continuing our work with you and your offices on 
     this particular issue.
           Sincerely,

                                               Joseph P. Borg,

                                                  NASAA President,
                          Director, Alabama Securities Commission.


     
                                  ____
                                                   April 13, 2007.
     Hon. Ruben Hinojosa,
     House of Representatives,
     Washington, DC.
     Hon. Judy Biggert,
     House of Representatives,
     Washington, DC.
       Dear Representatives Hinojosa and Biggert: On behalf of 
     Wells Fargo & Co., I am writing to express our strong support 
     for H. Res. 273, a Resolution that raises awareness and 
     support for financial literacy. Wells Fargo commends the 
     leadership and determination that both of you have 
     demonstrated as leaders of the financial literacy caucus.
       Wells Fargo is committed to working with you in addressing 
     the need for financial literacy for all Americans. Wells 
     Fargo's financial literacy program, Hands on 
     Banking' and El futuro en tus manos', 
     targets all age groups from elementary schools to adults. The 
     program has been developed in collaboration with teachers and 
     administrators across the country. The Department of 
     Education in Texas, Utah and South Carolina has approved this 
     program for school districts in their state. Wells Fargo has 
     also partnered with various non-profit groups to put Hands on 
     Banking and El futuro en tus manos into the hands of those 
     who can benefit the most including: National Council of 
     Economic Education, Jump$tart Coalition, Navajo Nation in 
     Arizona and the Mexican Consulates in Texas and California.
       Wells Fargo believes the key to economic self-sufficiency 
     is financial education. With this in mind, we are proud to 
     express our support for H. Res 273 and look forward to 
     continuing to team up with you and the House Financial and 
     Economic Literacy Caucus to increase financial education 
     throughout the United States.
           Sincerely,

                                                 Pamela Erwin,

                                            Senior Vice President,
                                           Wells Fargo Foundation.


     
                                  ____
                                                    National Youth


                                            Involvement Board,

                                       Aurora, CO, April 16, 2007.
     Hon. Ruben Hinojosa,
     House of Representatives,
     Washington, DC.
     Hon. Judy Biggert,
     House of Representatives,
     Washington, DC.
       Dear Representative Hinojosa and Representative Biggert: 
     The National Youth Involvement Board is grateful for your co-
     sponsorship of H. Res. 273, and we share with you the values 
     upheld during Financial Literacy Month. You have been 
     steadfast in leading a surge in attention to Americans' 
     personal financial strength and the financial education each 
     citizen deserves. As an organization that represents and 
     consists of citizens from all walks of life, we proudly share 
     your devotion.
       The National Youth Involvement Board (NYIB) is a volunteer 
     network of not-for-profit credit unions, affiliated 
     organizations, and other enthusiasts committed to providing 
     young people the financial fundamentals they need for a 
     lifetime of success. Whether through youth-specific services, 
     classroom presentations, or collaborative efforts with 
     organizations like Junior Achievement Worldwide and the 
     National Endowment for Financial Education, NYIB members have 
     long demonstrated creativity and cooperation toward our 
     common purpose.
       We at the National Youth Involvement Board understand that 
     visible national recognition of the need for personal 
     financial literacy is essential to a promising future for 
     America. Your efforts--specifically H. Res. 273--have created 
     exactly that. Thank you!
           Sincerely,

                                                  John Faries,

                                                         Chairman,
                                 National Youth Involvement Board.

[[Page E781]]

                                        National Council of Higher


                                      Education Loan Programs,

                                   Washington, DC, April 12. 2007.
     Hon. Ruben Hinojosa,
     House of Representatives,
     Washington, DC.
     Hon. Judy Biggert,
     House of Representatives,
     Washington, DC.
       Dear Representatives Hinojosa and Biggert: On behalf of the 
     members of the National Council of Higher Education Loan 
     Programs (NCHELP). I am writing to enthusiastically support 
     House Resolution 273. Our members help millions of students 
     fund higher education each year. We agree with you that it is 
     more important than ever that students and their families 
     have the information and tools necessary to make good 
     financial decisions.
       NCHELP members support and share the goal of House 
     Resolution 273 to increase financial literacy among all 
     Americans and to raise public awareness about the importance 
     of a sound financial education. Our members provide 
     information and training to college-bound students all around 
     the country on topics like managing credit and checking 
     accounts, basic credit and budgeting concepts, and personal 
     financial management, better preparing these students to make 
     good financial decisions and borrow responsibly. Materials 
     are made available in Spanish and other languages where 
     needed to ensure all Americans receive this important 
     information on college access and financial literacy. Our 
     members also partner with organizations like the Jump$tart 
     Coalition, Junior Achievement and 360 Degrees of Financial 
     Literacy to promote financial education to middle and high 
     school students.
       I thank you both for your continued leadership of the 
     Financial and Economic Literacy Caucus and pledge that the 
     members of NCHELP stand ready to assist you and your 
     colleagues in this important endeavor.
           Sincerely,
                                                    Brett E. Lief,
     President.

                          ____________________