Washington, D.C. — In an ongoing effort to strengthen the economic security and resilience of households nationwide, the Consumer Financial Protection Bureau (CFPB) has announced its strong support for the newly released National Strategy for Financial Literacy. Acting as a core member agency of the Financial Literacy and Education Commission (FLEC), the bureau is championing this ambitious blueprint designed to guide coordinated nationwide actions. The strategy focuses heavily on building foundational financial competency among youth, fostering durable saving and investing habits, elevating Americans’ overall knowledge of digital financial literacy, and equipping consumers with the critical skills needed to avoid sophisticated fraud and financial scams in an increasingly digital economy.

The rollout of this national framework comes at a time when the modern financial landscape is rapidly shifting, presenting both unprecedented opportunities and complex new challenges for consumers of all ages. Through the collaborative efforts of the FLEC, the new strategy sets a unified course for federal agencies, educators, and community stakeholders. The CFPB has long played a vital role in this mission, having already developed a comprehensive suite of evidence-based financial education resources specifically engineered to help Americans measure, understand, and increase their personal financial well-being.

Central to the CFPB’s contribution is its specialized youth financial education strategy, which functions as a robust, research-based framework. This framework outlines precisely when and how children and youth naturally acquire the essential knowledge, skills, and behaviors that are inextricably linked to long-term adult financial well-being. By focusing on developmental milestones, the framework actively supports improving executive functioning skills in young people, creating and encouraging positive, lifelong financial habits, and building core financial knowledge and decision-making skills. These pillars represent the three essential building blocks that children develop throughout their formative youth years, laying a groundwork that prevents financial vulnerability later in life.

The National Strategy for Financial Literacy formally establishes four distinct priority areas for the FLEC to concentrate its collaborative federal resources and policy initiatives. Beyond these core priorities, the strategy also identifies a comprehensive set of best practices designed to optimize the delivery of effective financial education across diverse populations. These proven delivery methods include providing actionable and timely education precisely at key financial decision points, tailoring educational content to specific life stages and individual situations, reinforcing foundational concepts consistently over time, incorporating experiential and hands-on learning opportunities, supporting high-quality instruction for educators, and rigorously evaluating program effectiveness to ensure tangible results.

The formulation of this comprehensive strategy was not done in isolation. It was developed through extensive consultation with all FLEC-represented agencies, rigorous public input from stakeholders across the country, and independent academic and market research focused on financial literacy and education. This multi-layered approach ensures that the resulting national strategy is both practical and grounded in the real-world experiences and needs of American consumers navigating today’s financial markets.

The roots of the FLEC trace back to the Fair and Accurate Credit Transactions Act of 2003, a landmark piece of legislation enacted by Congress with the explicit purpose of improving the financial literacy and education of persons living in the United States through the development of a coordinated national strategy. To achieve this mandate, the FLEC brings together the leadership of 23 federal agencies alongside the White House Domestic Policy Council. The commission is chaired by the Secretary of the Treasury, with the Acting Director of the CFPB serving in the vital role of Vice Chairman, underscoring the bureau’s central position in shaping national consumer policy.

The alignment between the CFPB’s ongoing initiatives and the broader goals of the new national strategy was a key theme discussed by leadership at recent commission meetings. Mark Paoletta, serving as then-Deputy Director and now Acting Director of the agency, has consistently emphasized the critical nature of this work. His remarks at the latest FLEC meeting detailed the expansive efforts the CFPB is undertaking to advance financial literacy, protect vulnerable populations, and ensure that every American has access to the tools necessary to navigate their financial lives with confidence and security. As the implementation of the National Strategy for Financial Literacy moves forward, the CFPB remains committed to leveraging its research, tools, and partnerships to build a more financially resilient public.