Washington, D.C. — In a significant nationwide push to bolster the economic security of American households, the Consumer Financial Protection Bureau (CFPB) has announced its strong support for the newly unveiled National Strategy for Financial Literacy. As an active member agency of the federal Financial Literacy and Education Commission (FLEC), the CFPB is championing this sweeping initiative designed to guide nationwide actions across several critical fronts, including building foundational youth financial competency, developing sustainable saving and investing habits, dramatically improving the public’s understanding of digital financial literacy, and equipping citizens with the practical knowledge needed to successfully identify and avoid increasingly sophisticated fraud and financial scams.

The release of the strategy comes at a time when the modern economic landscape presents unprecedented complexities for consumers of all ages. From navigating digital banking applications and cryptocurrency platforms to guarding against targeted cyber threats and identity theft, Americans face a daily array of complex financial choices. By uniting federal resources and establishing clear priorities, the National Strategy for Financial Literacy seeks to create a more resilient populace capable of making informed, confident decisions regarding their personal wealth and long-term economic stability.

To support these ambitious national goals, the CFPB has long been at the forefront of developing rigorous, evidence-based financial education resources designed to help Americans measurably increase their overall financial well-being. Central to this mission is the Bureau’s specialized youth financial education strategy. This research-based framework provides a comprehensive blueprint outlining precisely when and how children and youth naturally acquire the essential knowledge, skills, and behavioral patterns that ultimately correlate with adult financial health and stability.

Rather than treating financial literacy as a set of isolated facts to be memorized, the CFPB’s youth framework focuses heavily on holistic developmental milestones. Specifically, the strategy supports improving executive functioning skills, fostering the deliberate creation and reinforcement of positive financial habits early in life, and systematically building core financial knowledge alongside advanced decision-making skills. According to the Bureau’s extensive developmental research, these three fundamental building blocks are cultivated progressively during childhood and adolescence, laying the groundwork for sound financial behaviors that persist well into adulthood.

The broader National Strategy for Financial Literacy builds upon these developmental principles by establishing four distinct priority areas for the FLEC and its member agencies to focus on in the coming years. These priority areas are structured to address the most pressing vulnerabilities and opportunities within the American economic ecosystem, ranging from early educational interventions in classrooms to targeted support for older adults and vulnerable populations navigating an increasingly digital marketplace.

In addition to defining these core priorities, the National Strategy for Financial Literacy identifies a series of proven best practices for delivering truly effective financial education to the public. Among the highlighted approaches is the critical importance of providing actionable, timely education precisely at key financial decision points—such as when an individual is preparing to purchase a home, apply for higher education loans, or plan for retirement. The strategy emphasizes that educational programs achieve the greatest impact when they are carefully tailored to reflect an individual’s specific life stage and unique personal circumstances rather than relying on a generalized, one-size-fits-all approach.

Furthermore, the framework underscores that effective financial education must go beyond a single classroom lesson or informational pamphlet. It requires reinforcing core concepts over time, incorporating experiential and hands-on learning opportunities that allow individuals to practice financial decision-making in low-stakes environments, supporting high-quality instruction for educators and community leaders, and rigorously evaluating program effectiveness to ensure that public and private resources are yielding tangible, measurable results for consumers. This comprehensive roadmap was meticulously developed through extensive consultation with the federal agencies represented on the FLEC, extensive public input from stakeholders across the country, and independent academic research on financial literacy and consumer education.

The origins of the commission tasked with overseeing this national effort trace back more than two decades. The FLEC was originally established by Congress under the Fair and Accurate Credit Transactions Act of 2003 with a clear, statutory mandate to dramatically improve the financial literacy and education of persons living in the United States through the development and execution of a coordinated national strategy. By design, the commission brings together the collective expertise and leadership of the federal government to ensure a unified approach to economic education.

The leadership structure of the FLEC reflects its broad governmental scope. The commission is composed of the heads of 23 distinct federal agencies alongside the White House Domestic Policy Council. It is formally chaired by the Secretary of the Treasury, while the Vice Chairman position is held by the Acting Director of the CFPB, placing the Bureau in a pivotal leadership role in shaping national economic education policy and practice.

The CFPB’s ongoing commitment to these principles was recently highlighted by leadership at the highest levels of the agency. Following the release of the new national strategy, Mark Paoletta—serving as then-Deputy Director and now as Acting Director of the CFPB—delivered a comprehensive address at the latest FLEC meeting detailing the Bureau’s extensive, ongoing work and future initiatives in the realm of financial literacy and consumer empowerment. As the federal government moves forward with the implementation of the National Strategy for Financial Literacy, the CFPB continues to integrate these evidence-based principles into its consumer tools, educational outreach, and regulatory policies to foster a more financially secure future for all Americans.