Washington, D.C. — The Consumer Financial Protection Bureau (CFPB), operating proudly as a dedicated member agency of the Financial Literacy and Education Commission (FLEC), has announced its strong support for the newly released National Strategy for Financial Literacy. This sweeping federal initiative is designed to serve as a comprehensive blueprint guiding nationwide actions across multiple critical fronts, including building foundational financial competency among youth, fostering healthy saving and investing habits, significantly improving Americans’ comprehension of digital financial literacy, and educating the public on how to actively avoid sophisticated fraud and scams in an increasingly digital economy.

As financial markets evolve and technology transforms how everyday transactions are conducted, the need for robust, accessible financial education has never been more urgent. The release of the National Strategy for Financial Literacy marks a concerted effort by the federal government to align resources, share best practices, and establish clear priorities to safeguard the financial well-being of consumers nationwide. Through its participation in FLEC, the CFPB remains deeply committed to advancing these vital objectives and ensuring that individuals from all walks of life have equitable access to the knowledge and tools they need to achieve long-term financial security.

In alignment with the broader goals of the national strategy, the CFPB has actively developed an array of evidence-based financial education resources specifically crafted to help Americans measurably increase their overall financial well-being. Recognizing that financial capability is a lifelong journey that begins in early childhood, the CFPB has formulated a specialized youth financial education strategy. This comprehensive, research-based framework meticulously outlines when and how children and adolescents acquire the vital knowledge, skills, and observable behaviors that directly correlate with adult financial stability and success.

The CFPB’s youth framework is strategically built upon three foundational building blocks that children develop progressively throughout their formative years: improving executive functioning skills, creating and encouraging positive financial habits, and building robust financial knowledge and decision-making skills. By focusing on these core areas early in life, educators, parents, and community leaders can help lay the groundwork for responsible money management that persists well into adulthood. These resources empower young people to navigate complex economic landscapes with confidence, setting the stage for a financially resilient generation.

The overarching National Strategy for Financial Literacy establishes four critical priority areas for the FLEC to focus its collective energy and federal resources. These priorities reflect the changing economic realities faced by modern consumers and target the most pressing vulnerabilities in the current financial ecosystem. By concentrating efforts on youth financial education, encouraging sustainable savings and investment practices, addressing the nuances of digital finance, and fortifying public defenses against financial fraud, the strategy provides a focused pathway toward a more financially literate populace.

To ensure that these educational initiatives achieve maximum impact, the National Strategy for Financial Literacy also identifies and highlights a series of recognized best practices for delivering effective financial education. Among these recommended approaches is the importance of providing actionable, timely education precisely at key financial decision points in a consumer’s life—such as purchasing a first home, funding higher education, or preparing for retirement. The strategy emphasizes tailoring educational content to specific life stages and individual situations, recognizing that a one-size-fits-all approach is rarely effective in personal finance.

Furthermore, the strategy advocates for reinforcing key financial concepts over time rather than relying on isolated, one-off informational sessions. It strongly encourages the incorporation of experiential and hands-on learning methods, which have been proven to enhance comprehension and retention among learners of all ages. Supporting high-quality instruction and rigorously evaluating program effectiveness are also underscored as essential components for ensuring that educational investments yield tangible, positive results for participants. This meticulous framework was successfully developed through extensive consultation with the diverse agencies represented within FLEC, alongside valuable public input and independent research focused on financial literacy and education.

The origins of the Financial Literacy and Education Commission trace back to the Fair and Accurate Credit Transactions Act of 2003, landmark legislation enacted with the explicit statutory mission to improve the financial literacy and education of persons residing in the United States. This mission is primarily executed through the continuous development and updating of a comprehensive national strategy designed to promote financial literacy and education across all demographic segments.

Governance of the FLEC reflects a broad, cross-governmental commitment to economic education, being composed of the heads of 23 federal agencies alongside the White House Domestic Policy Council. The commission operates under the leadership of the Secretary of the Treasury, who serves as its chairperson, while the leadership team is rounded out by the Acting Director of the CFPB, who holds the position of Vice Chairman. This high-level interagency collaboration ensures that financial education remains a prominent priority across the federal government, uniting diverse perspectives and specialized expertise to tackle complex economic challenges.

Reflecting the agency’s active leadership role within the commission, leadership figures at the CFPB have consistently championed the importance of these initiatives. Notably, remarks delivered at the latest FLEC meeting by Mark Paoletta—serving then as Deputy Director and currently as Acting Director—highlighted the extensive ongoing work and steadfast dedication of the CFPB toward advancing financial literacy nationwide. As the agency continues to implement its research-backed strategies and collaborate with federal partners, the CFPB remains dedicated to empowering consumers, protecting vulnerable populations, and fostering a more financially secure future for all Americans.