The Office of Consumer Policy leads the Treasury Department’s work to empower more Americans to create financially secure futures for themselves and for their families, with access to safe and affordable financial products and services and the right information and knowledge for making sound financial choices. The office produces policy analysis on developments in financial services including emerging products and services provided by banks and non-bank institutions, payments, credit, financial technology, and related topics.
Financial Literacy and Education
The Office coordinates the Financial Literacy and Education Commission (FLEC) for the Secretary of the Treasury, who is the Chair of the FLEC.
Household and Community Climate Resilience
In October 2021, the FLEC launched an effort to study the impact of climate change on households and communities. This effort is part of the Biden-Harris Administration’s whole-of-government approach to tackling climate change and will bring together all FLEC agencies, and additional
agencies, to write a comprehensive report with the goal of identifying priority policy actions to increase household and community financial resiliency. The report will explore financial risks to households and communities, especially low-income and historically disadvantaged communities, of climate change and climate transition.
FLEC will work to develop an understanding of:
- how households, communities, and the smallest businesses experience financial resilience in the face of climate change and climate transition, supported by resilience-supporting financial products and financial infrastructure supporting environments.
- how to map climate-related financial risks, and identify which groups and regions will be most impacted; and
- what tools and best practices could be effective at addressing risks and vulnerabilities and how to implement them equitably.
FINANCIAL LITERACY AND EDUCATION PUBLIC MEETING - july 14, 2022
The next public meeting of the Financial Literacy and Education Commission (FLEC) will be held on July 14, 2022, from 9:30 to 11:00 a.m. Eastern Time. The meeting will be webcast here: www.yorkcast.com/treasury/events/2022/07/14/flec.
Assistant Secretary for Financial Institutions Policy, Graham Steele will chair the meeting on behalf of Secretary of the Treasury Janet Yellen. The Vice Chair of the Commission, Rohit Chopra, Director of the Consumer Financial Protection Bureau will also participate.
You do not need to register to view the webcast. If you require a reasonable accommodation or communication access services such as Communication Access Real-Time Translation (CART) or sign language interpreters, please contact ReasonableAccommodationRequests@treasury.gov.
FEDERAL FINANCIAL LITERACY REFORM
The office prepared the report Federal Financial Literacy Reform: Coordinating and Improving Financial Literacy Efforts. The report highlights the importance of financial literacy and education for all Americans and identifies ways to improve the delivery of financial education. The report recommends actions to enhance the federal government’s investments in financial education through better coordination, prioritization, and partnership with the private sector and state, tribal and local governments.
The Financial Literacy and Education Commission issued a new National Strategy for Financial Literacy 2020 . The National Strategy details the federal government’s financial literacy priorities to empower consumers to make independent financial decisions and build financial resilience. The National Strategy lays the foundation for coordination efforts between member agencies and between the public and private sector to meet these objectives.
- Financial Literacy and Education Commission (FLEC)
- MyMoney.gov - FLEC's one-stop source for federal resources on managing and growing your money
- Innovations in Financial Services