Theodore R. Daniels, the President and CEO of the Society for Financial Education and Professional Development was invited to serve as guest speaker at the U.S. Department of Treasury which coordinates the efforts of the Federal Financial Literacy and Education Commission.
At the Commission’s meeting, held on January 31, 2006, Mr. Daniels provided members of the Financial Literacy and Education Commission and individuals representing other national organizations with an overview of his organization, the goals of the program, and reviewed the types of seminars that are currently being presented to students of over 61 historically black colleges and universities nationwide. He also shared the positive impact that his program has had on students, by sharing program evaluation results submitted by college students who attended the organization’s seminars. The results stated that 98% of the attendees of the Personal Money Management stated that the information presented would help them better manage their personal finances while 89% of the attendees of the Credit Management seminar stated that the information presented was very helpful.
Other guest speakers also discussed financial education best practices in their organizations including: Ms. M. J. Pizzella, Associate Administrator, Office of Citizen Services and Communications, U.S. General Services Administration; Rosetta Jones, Vice President, Visa USA; and Theodore Beck, President and Chief Executive Officer, National Endowment for Financial Education.
The Financial Literacy and Education Commission was created by Title V of the Fair and Accurate Credit Transactions Act, signed by President Bush on December 4, 2003. The Commission is composed of the Secretary of the Treasury and the heads of the Office of the Comptroller of the Currency; the Office of Thrift Supervision; 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; and the Office of Personnel Management.
The Department of the Treasury is a leader in promoting financial education. Treasury established the Office of Financial Education in May of 2002. The office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning. The office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States. For more information about the Office of Financial Education visit: www.treas.gov/financialeducation.