Member login
American Financial Services Association

AFSA Responds to RFI on Prosperity Gap

Blog Posts

AFSA Responds to RFI on Prosperity Gap

Yesterday, AFSA completed a Request For Information from the House Select Committee on Economic Disparity and Fairness in Growth regarding policy areas that can help close the prosperity gap in the United States.

AFSA’s comments focused on the impact of its Education Foundation, which has successfully promoted quality personal finance courses for teachers, students, and parents since 1990. For the last two years, the daily lives of millions of Americans have been considerably disrupted, including those attending or working at public and private schools.

As the Select Committee tries to address many current economic issues later this year, AFSA encouraged the Select Committee to examine how educational institutions can promote financial literacy programs to reach students and teachers through more accessible and equitable digital platforms in a post-COVID-19 environment, especially in K-12 programs.

In remarks before the Financial Literacy and Education Commission in 2021, Treasury Secretary Janet Yellen said, “research does show that education – especially early education – about how to navigate personal finances can have a lasting, positive impact on people’s lives. It can be part of our strategy for building a more equitable economy.”

AFSA’s Education Foundation can provide Congress with unique insights about teachers and students from across the country who have benefited from its free personal finance course, MoneySKILL. Additionally, at the AFSA Education Foundation, diversity, equity, and inclusion are an important part of our work educating consumers, regardless of zip code, on personal finance concepts and helping them realize the benefits of responsible money management.

AFSA will keep members informed if there are any developments before the House Select Committee on Economic Disparity and Fairness in Growth involving financial education initiatives.

February 15th, 2022 by