Press Releases FDIC Showcases Money Smart, Other Financial Education Efforts at Capitol Hill Observance of Financial Literacy Day
FOR IMMEDIATE RELEASE PR-35-2005 (4-26-2005)
Media Contact: Motty Bradshaw (202-898-8680)
The FDIC will promote its award-winning Money Smart curriculum and other financial education efforts at a Capitol Hill observance of Financial Literacy Day on April 27. The event, to be held from 12:30 p.m. to 4:00 p.m. in the Cannon House Office Building's Caucus Room, is co-sponsored by the Jump$tart Coalition and its partners, Junior Achievement and the National Council on Economic Education. Members of Congress, their staffs, representatives of other federal agencies, and Washington, D.C. area organizations are expected to participate in the Capitol Hill observance.
"Individuals must have the right tools to build a secure future for themselves, their families and their communities," said FDIC Chairman Don Powell. "This is why we developed the Money Smart financial education curriculum. Education is the key to sound money management."
The Money Smart training curriculum helps low- and moderate-income adults enhance their money-management skills and create positive banking relationships. Through this program, the FDIC has reached over 100,000 individuals and provided the tools necessary to move them toward financial independence.
"The FDIC believes financial literacy is the first step to overall independence," said Michael Zamorski, Director of the Division of Supervision and Consumer Protection (DSC). "With Money Smart, we can help with that first step." Added Donna Gambrell, DSC Deputy Director, "We all know that financial literacy is important not only to the success of a person, but also to the success and viability of a community."
The FDIC reaches out to educate consumers on financial matters in other ways. For example, through its quarterly publication FDIC Consumer News, the FDIC provides continuing education on such topics as proper credit card use, protection against identity theft, deposit insurance, and ATMs and other forms of self-service banking. Consumers can access FDIC Consumer News on the Internet or subscribe to the publication free of charge.
The FDIC has also planned three symposia across the country to educate consumers about the growing problem of identity theft: May 13 in Atlanta, June 17 in Los Angeles, and September 22 in Chicago. At the symposia, the FDIC will share information about what consumers can do to protect themselves, and what government, industry and law enforcement can do to combat this growing crime. These events will follow the FDIC's successful ID theft symposium in Washington, D.C., in February.
To find out more about the FDIC and its financial education efforts, go to
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,975 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).