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Financial Literacy and Education Commission: Further Progress Needed to Ensure an Effective National Strategy

GAO-07-777T Published: Apr 30, 2007. Publicly Released: Apr 30, 2007.
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Highlights

The Financial Literacy and Education Improvement Act created, in December 2003, the Financial Literacy and Education Commission. This statement is based on a report issued in December 2006, which responded to the act's mandate that GAO assess the Commission's progress in (1) developing a national strategy; (2) developing a Web site and hotline; and (3) coordinating federal efforts and promoting partnerships among the federal, state, local, nonprofit, and private sectors. To address these objectives, GAO analyzed Commission documents, interviewed its member agencies and private financial literacy organizations, and benchmarked the national strategy against GAO's criteria for such strategies.

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AccountabilityConsumer educationCustomer serviceEducationFederal agenciesstate relationsInteragency relationsNational policiesNonprofit organizationsPerformance measuresPrivate sectorProgram evaluationlocal relationsStrategic planningWebsitesFinancial counselingProgram coordinationProgram goals or objectivesprivate partnerships