President Obama Appoints NEFE CEO to Key Administration Post

Ted Beck Named to New Advisory Council on Financial Capability

Date: October 18, 2010

Contact: Paul Golden 303-224-3514, [email protected]

DENVER—President Barack Obama announced Tuesday, October 12, his intent to install a new council to help enhance the financial literacy and capability of the American people. Ted Beck, president and CEO of the Denver-based National Endowment for Financial Education is one of the 12 appointments.

Ted Beck, Appointed to President's Advisory Council on Financial Capability

Beck joins the President’s Advisory Council on Financial Capability charged with advising President Obama on effective financial education efforts; promoting financial products and services that are beneficial to consumers, especially low- and moderate-income consumers; and promoting the understanding and effective use of such financial products and services.

“I am confident that these highly qualified men and women will greatly serve the American people as they work to improve financial literacy and promote services that will benefit consumers,” said President Obama in announcing the appointment of the council. “I look forward to their sound advice on these issues as we work together in the months and years ahead.”

“I am honored to be appointed to the new council and I commend President Obama for his commitment to this important issue,” says Beck.

Tapped to lead the Obama council is John W. Rogers Jr., chairman, CEO and chief investment officer of Ariel Investments. Those joining Rogers and Beck on the President’s Advisory Council on Financial Capability are Lorraine Cole (named vice chair), currently an executive management consultant who served as the CEO of YWCA USA from 2006 until 2010; Roland A. Arteaga, president and CEO of the Defense Credit Union Council (DCUC); John Hope Bryant, chairman and founder of Operation HOPE, Inc.; Samuel T. Jackson, founder, chairman and CEO of the Economic Empowerment Initiative, Inc.; Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority (FINRA); Beth Kobliner, a personal finance commentator, journalist and author; Addison Barry Rand, CEO of AARP; Amy Rosen, president and CEO of the Network for Teaching Entrepreneurship (NFTE); Carrie Schwab-Pomerantz, president of the Charles Schwab Foundation; and Kenneth Wade, CEO of NeighborWorks America. President Obama says he will announce additional members to the Council at a later date.

“This effort is important to help keep America competitive and assist the American people in understanding and addressing financial matters, which contributes to our national financial stability,” said President Obama in announcing the appointment of the council.

The White House says that the council is a part of President Obama’s commitment to promote financial capability and protect American consumers. One of the central aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act that President Obama signed into law on July 21, 2010, is the creation of the Consumer Financial Protection Bureau (CFPB), the sole mission of which is protect and empower American consumers with the clear and concise information they need to make the financial decisions that are best for them and their families. The CFPB will house a new Office of Financial Education that will help educate and empower consumers to make better informed financial decisions. The White House adds the President’s Advisory Council on Financial Capability will play an important role in complementing these efforts.

“The need for improved financial capability has never been greater as Americans continue to struggle with their financial lives,” says Beck. “I look forward to working with the council to improve the delivery of reliable education resources that instill in all Americans the capability to create a sound future for themselves and their families.”

For complete bios on the appointees and more information on the President’s Advisory Council on Financial Capability, visit here




  • Paul Golden

    Media Relations Director

    Direct: 303-224-3514
    Cell: 303-918-3620
    [email protected]