The Office of Consumer Policy (OCP) leads the Treasury Department’s efforts to empower American consumers and households by promoting financial education and literacy, access to credit, and asset-building opportunities. The office produces in-depth policy analysis and provides technical assistance on key developments in household and consumer finance, including emerging products and services from both bank and non-bank institutions, payments, consumer and small business credit, and financial technology.
OCP manages the activities of the Congressionally-mandated interagency Financial Literacy and Education Commission (FLEC) on behalf of the Treasury Secretary, who by statute chairs the Commission.
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.
U.S. Financial Literacy and Education Commission Annual Report to Congress FY 2023 – FY 2024 This report, also known as the Strategy for Assuring Financial Empowerment (SAFE) Report, highlights the relevant activities of the agencies represented on the FLEC to advance financial literacy and education in FY 2023 and FY 2024. Continuing its strategic focus to coordinate, support, and encourage federal government efforts to improve financial literacy and education, the FLEC is committed to serving as a partner in public and private sector efforts to improve Americans’ financial knowledge, skills, and decision-making and empower Americans to use these abilities to enhance their financial well-being.
FINANCIAL LITERACY AND EDUCATION COMMISSION PUBLIC MEETING – NOVEMBER 14, 2024
The latest public meeting of the Financial Literacy and Education Commission (FLEC) was held on November 14, 2024, from 12:45 PM – 2:30 PM Eastern Time.
Treasury Secretary Janet L. Yellen chaired the meeting and was joined by Rohit Chopra, Director of the Consumer Financial Protection Bureau, who serves as Vice Chair of the FLEC.
The meeting featured a presentation and panel discussion on Treasury’s National Strategy for Financial Inclusion in the United States.
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 Security
This office provides leadership and policy development and analysis for empowering individual financial security and wealth building. Current topics include financial capability, saving and investing, access to consumer credit, innovation in financial services and student lending.
- 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
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