On June 25, 2013, President Obama signed Executive Order 13646 creating a new President's Advisory Council on Financial Capability for Young Americans. The Council will advise the President and the Secretary of the Treasury on how to promote financial capability among young Americans and encourage building the financial capability of young people at an early stage in schools, families, communities, and the workplace and through use of technology. These recommendations will contribute to the nation's future financial stability and increase upward economic mobility. Strengthening the financial capability of our young people is an investment in our nation's economic prosperity. The Council will seek to identify ways to:
- build strong public-private partnerships between and among members of the Financial Literacy and Education Commission; other agencies; State, tribal, and local governments; and private entities to coordinate the use of high quality financial capability resources and practices in schools, families, communities, and elsewhere in order to build the financial capability of young Americans;
- support ongoing research and evaluation of financial education and capability activities aimed at young people to determine and disseminate effective approaches;
- effectively assess the financial capability, including both financial knowledge and financial behaviors, of young Americans;
- identify and develop strategies to pilot financial capability approaches in schools and among young people that are likely to have significant effects on young Americans' financial capability, and determine ways to test and implement such innovations in a large-scale and sustainable manner;
- identify, develop, and measure the effectiveness of technology-driven approaches to promote financial capability among young people;
- identify and test promising and tested approaches for increasing planning, saving, and investing for retirement by young people; and
- promote the importance of starting to plan and act early for financial success broadly among Americans through public awareness campaigns or other means;
The Council is comprised of the Secretary of the Treasury, the Secretary of Education, the Director of the Consumer Financial Protection Bureau and up to 22 non-governmental members.
If you have ideas for the Council to consider, please email email@example.com.
Click here for the blog announcing formation of the new Council.
Executive Order 13646
PACFCYA 2013 Charter
Guidelines and Operating Procedures
PACFCYA Overview and Fact Sheet
To access the webcast of the March 10th, 2014 Council meeting, please use this link: http://www.treasury.gov/resource-center/financial-education/Pages/meeting_03102014.aspx.
About Presidential Advisory Committees.
The President's Advisory Council for Financial Capability for Young Americans is an advisory committee as defined in the Federal Advisory Committee Act (P.L. 92-463; 5 U.S.C. App.). This act specifies the roles, operation and oversight of such advisory bodies. For more information about the Federal Advisory Committee Act, please visit:
The Executive Director of the President's Advisory Council for Financial Capability on Young Americans is Melissa Koide, Deputy Assistant Secretary for Consumer Policy.
The Designated Federal Official for the Council is Louisa Quittman, Director of the Office of Financial Education., Office of Consumer Policy.
The Executive Director and the Designated Federal Official may be contacted by email at firstname.lastname@example.org
To join a subscription list that will provide information about the PACFCYA and related activities, please click here. When you register, please indicate if you are a person with a disability who requires a reasonable accommodation in order to participate in this event.
For information on the previous President’s Advisory Council on Financial Capability, please click here. (Use this link à http://www.treasury.gov/resource-center/financial-education/Pages/Advisory.aspx )