Federal Deposit
Insurance Corporation

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FDIC Releases Updated Money Smart Curriculum for Adults

FOR IMMEDIATE RELEASE October 29, 2010

Media Contact: LaJuan Williams-Young Office: (202) 898-3876 Email: lwilliams-young@fdic.gov

The FDIC today announced the release of an enhanced version of its instructor-led Money Smart financial education curriculum for adults.

The enhanced curriculum incorporates changes in the law and industry practices that have occurred since Money Smart was revised in 2006. For example, the curriculum reflects recent amendments to the rules pertaining to credit cards as well as the new overdraft opt-in rule. A new module, Financial Recovery, provides an overview of the steps consumers can take to rebuild their finances after a financial setback.

"For almost a decade, the Money Smart program has helped more than 2.5 million people learn how to more effectively manage their money," stated FDIC Chairman Sheila C. Bair. "Our enhanced Money Smart curriculum is a timely tool to educate those who want to manage their finances efficiently, including consumers without a banking relationship."

Money Smart is the FDIC's award-winning financial education curriculum designed to help consumers understand basic financial services, develop money-management skills and learn how to use banking services effectively. Findings from a longitudinal survey show that Money Smart can positively influence how people manage their finances, and these changes are sustainable in the months following the training.

To learn more about the FDIC's Money Smart program and to obtain free copies of the curriculum, visit the Money Smart page on the FDIC's Web site at www.fdic.gov/moneysmart.

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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 7,830 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 tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-239-2010