    [United States Statutes at Large, Volume 124, 111th Congress, 2nd Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    PROCLAMATION 8493--APR. 2, 2010

    Proclamation 8493 of April 2, 2010
    National Financial Literacy Month, 2010
    By the President of the United States of America
    A Proclamation

    In recent years, our Nation's financial system has grown increasingly
    complex. This has left too many Americans behind, unable to build a
    secure financial future for themselves and their families. For many,
    financial literacy can mean economic prosperity and protection against
    fraud and predatory banking practices. During National Financial
    Literacy Month, we recommit to teaching ourselves and our children about
    the basics of financial education.
    Our recent economic crisis was the result of both irresponsible actions
    on Wall Street, and everyday choices on Main Street. Large banks
    speculated recklessly without regard for the consequences, and other
    firms invented and sold complex financial products to conceal risks and
    escape scrutiny. At the same time, many Americans took out loans they
    could not afford or signed contracts without fully understanding the
    terms. Ensuring this crisis never happens again will require new rules
    to protect consumers and better information to empower them.
    The new Consumer Financial Protection Agency I have proposed will ensure
    ordinary Americans get clear and concise financial information. We must
    put an end to confusing loan contracts, hidden fees attached to
    mortgages, and unfair penalties that appear without warning on bank
    statements. The Credit Card Accountability Responsibility and Disclosure
    Act of 2009 began reining in some of these deceptive tactics when it
    recently took effect. The President's Advisory Council on Financial
    Capability is also looking for new ways to help individuals make
    informed decisions and to educate our children on core financial
    competencies.
    While our Government has a critical role to play in protecting consumers
    and promoting financial literacy, we are each responsible for
    understanding basic concepts: how to balance a checkbook, save for a

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    child's education, steer clear of deceptive financial products and
    practices, plan for retirement, and avoid accumulating excessive debts.
    To learn more, visit: MyMoney.gov or call toll-free 1-888-MyMoney for
    helpful guidance and resources.
    Our Nation's future prosperity depends on the financial security of all
    Americans. This month, let us each take time to improve our own
    financial knowledge and share that knowledge with our children.
    Together, we can prevent another crisis and rebuild our economy on a
    stronger, more balanced foundation.
    NOW, THEREFORE, I, BARACK OBAMA, President of the United States of
    America, by virtue of the authority vested in me by the Constitution and
    the laws of the United States, do hereby proclaim April 2010 as National
    Financial Literacy Month. I call upon all Americans to observe this
    month with programs and activities to improve their understanding of
    financial principles and practices.
    IN WITNESS WHEREOF, I have hereunto set my hand this second day of
    April, in the year of our Lord two thousand ten, and of the Independence
    of the United States of America the two hundred and thirty-fourth.
    BARACK OBAMA