Washington, DC – House Financial Services Committee Chairman Barney Frank today announced that the committee will hold a hearing on financial literacy and education, and will examine the effectiveness of governmental and private sector initiatives.
“Learning to manage one’s spending is the most important thing an individual can do to ensure their family’s financial future. Unfortunately, too many Americans right now are struggling with unmanageable mortgage payments, credit card debt, and out-of-control spending habits,” said Financial Services Committee member Rep. Rubén Hinojosa. “Next week’s hearing is part of an on-going effort to discover what financial literacy programs work and find ways to incorporate financial education into the classroom and into the day-to-day lives of consumers. It will be a detriment to our nation’s economic future if so many Americans continue to mismanage their money, credit, and debt.”