[Congressional Record Volume 156, Number 57 (Wednesday, April 21, 2010)]
[Extensions of Remarks]
[Page E605]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 SUPPORTING THE GOALS AND IDEALS OF NATIONAL FINANCIAL LITERACY MONTH, 
                                  2010

                                 ______
                                 

                               speech of

                         HON. CAROLYN McCARTHY

                              of new york

                    in the house of representatives

                        Tuesday, April 20, 2010

  Mrs. McCARTHY of New York. Mr. Speaker, recently President Obama 
proclaimed April 2010 as Financial Literacy Month. I applaud the 
President for doing this because the country's future prosperity 
depends on the financial security of all Americans. I am proud to be an 
original cosponsor of H. Res. 1257, which supports the goals and ideals 
of National Financial Literacy month.
  As a nation, we have all been impacted by the effects of our 
struggling economy. While there are many factors that have contributed 
to the current economic climate, and there is no one cause, we do know 
that consumers need to be more aware and informed of how their finances 
work and how to avoid some common financial pitfalls.
  It is never too early or too late to learn about consumer, economic, 
and personal finance concepts, which is why I introduced the Financial 
and Economic Literacy Improvement Act. This bill will provide grants to 
improve financial literacy education for K-12 and college students. 
Additionally, I worked with my Financial Services Committee colleagues 
to draft an amendment included in the House financial regulatory reform 
bill that will create a Financial Literacy Program which will run 
through the Department of Treasury's Office of Financial Literacy.
  The Government has an important role in protecting consumers and 
promoting sound financial literacy programs. It is up to each 
individual to utilize services that provide the knowledge and 
understanding of basic concepts such as avoiding excessive debt, saving 
for an education and steering clear of deceptive products and 
practices.
  Now is the time, regardless of age, that we learn, as consumers, 
about financial products so we may protect ourselves and our families 
in the future. I urge all my colleagues to support H. Res. 1257.

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