Ted Beck Installed on Advisory Panel During White House Ceremony

GREENWOOD VILLAGE, COLORADO—President George W. Bush announced Tuesday, January 22, that he signed an executive order to establish an advisory council within the U.S. Department of Treasury “to help keep America competitive and assist the American people in understanding and addressing financial matters.”

Tapped to lead the council is brokerage company founder Charles Schwab, chairman and CEO of Charles Schwab & Company, Inc. Ted Beck, president and CEO of the Colorado-based National Endowment for Financial Education (NEFE), attended the announcement at the White House where he was officially appointed to the President’s Advisory Council on Financial Literacy, a 16-member panel charged with prescribing recommendations on better educating the public on matters related to their finances and their future.

"The need for financial literacy has rapidly evolved into one of the most relevant issues for the American public and I commend President Bush for his efforts in addressing this concern,” said Beck following his appointment. “I am honored to represent NEFE on the Council, a group of highly-respected leaders in the fields of financial services, outreach and education, who understand that with access to reliable resources all Americans are capable of learning how to take control of their financial lives.”

The Council, which will serve for two years initially, will advise President Bush and the Treasury Department on goals for improving financial education efforts to youth in school and adults in the workplace; promote effective access to financial services; establish sound measures of national financial literacy; conduct research on the extent of financial knowledge among individuals; and strengthen and coordinate public and private sector financial education programs.

Those joining Beck on the President’s Advisory Council on Financial Literacy include among others, John Bryant (named vice chair of the council), chairman and founder of Operation HOPE, Inc.; Laura Levine, executive director of the Jump$tart Coalition for Personal Financial Literacy; Robert Duvall, president and CEO of the National Council on Economic Education; Ted Daniels, founder and president of the Society for Financial Education and Personal Development; David Mancl, chairman of the Wisconsin State Jump$tart Coalition, Wisconsin Department of Financial Institutions; and Jack Kosakowski, executive vice president and chief operating officer at Colorado-based JA Worldwide (Junior Achievement).

Council members met with President Bush in the Oval Office before the Council was introduced at the news conference. Joining the president during the announcement was Secretary of the Treasury Henry M. Paulson, Jr.; Alphonso Jackson, Secretary of Housing and Urban Development; and Treasurer of the United States Anna Cabral.

"If we want America to be as hopeful a place as it can be, we want people owning assets…we want people to be able to manage their assets. We want people to understand basic financial concepts. This group of citizens has taken the lead, and I really thank them,” said President Bush in introducing the Council. “When we look back at this Council, people will say we’re glad that the administration took the action it took because somebody’s life is going to be better as a result of it.”

Read President Bush’s remarks announcing the President’s Advisory Council on Financial Literacy.

For more on the President’s Advisory Council on Financial Literacy, click here.

For a list of members on the President's Advisory Council on Financial Literacy, click here.



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