Capitol Hill Welcomes Financial Education Resource Fair in Bipartisan Effort to Bank on the Future

WASHINGTON, DC - Today, Congresswoman Joyce Beatty (D-OH-03) and Congresswoman Young Kim (R-CA-40), co-chairs of the Financial Literacy and Wealth Creation Caucus, hosted a financial education resource fair: "Banking on the Future through Financial Education." The fair celebrated Financial Literacy Month and aimed to raise awareness about the importance of financial resources and education. This free, bipartisan event on Capitol Hill was open to the public. Representatives from 30 government agencies, nonprofits, and financial institutions provided attendees with materials and strategies to achieve financial security, stability, and wealth creation.

Only 57% of adults in the United States are financially literate, according to a survey conducted by S&P Global. Further, a National Financial Educators Council study found that a lack of financial education costs an average of $1,506 per American, amounting to over $388 billion nationwide, due to factors like credit card interest and fees, overspending, overdraft fees, and fraud. The resources at the fair covered subjects like savings, budgeting, investing, retirement planning, credit and debt management, and fraud protection.

"I'm hoping to gather and learn what services and products are available for D.C. residents," said Financial Wellness Strategist, April Stewart, who attended the fair after learning about it on the local news. "I hope to learn about the trends in the financial literacy space so I can bring that knowledge back to the residents in my community, as well as collaborate with some of the vendors here today."

The event began with opening remarks from both Congresswomen.

"I am deeply committed to ensuring that every American has the knowledge and tools needed to navigate the complexities of our financial system," said Congresswoman Beatty. "That's why I'm so grateful to the 30 organizations who joined us today to propel attendees forward on their financial management journey. Their support helps the Congressional Financial Literacy and Wealth Creation Caucus reach its aim of giving Americans the tools and resources they need to be economically stable, build wealth, and thrive. Together, we can put every American on the path to financial freedom."

"One's zip code shouldn't determine one's ability to achieve the American dream. That's why I'm working to ensure Americans can access financial literacy tools to help them take control of their finances and their futures," said Congresswoman Young Kim. "I thank the 30 organizations who joined Rep. Beatty and me to share free resources to the Capitol Hill community as we celebrate Financial Literacy Month. I'll keep doing my part as Financial Literacy and Wealth Creation Caucus co-chair to equip Americans with the tools to grow their wealth and achieve their dream."

"PBS LearningMedia is built to help students develop real-world problem-solving skills, like how to effectively use money," said Lori Brittain, Vice President of PBS LearningMedia. "It's why we are proud to support Financial Literacy & Wealth Creation Caucus Co-Chairs Young Kim and Joyce Beatty as they further the conversation on Capitol Hill about this important topic by holding a resource fair to showcase the power of free online financial literacy resources. From NOVA's interactive Financial Lab aimed at helping older students better understand good spending and investing habits to PBS KIDS programs that help young learners understand needs versus wants, PBS LearningMedia has resources for students across an array of topics and ages."

"Our markets work best when everyone can participate in them with confidence, and increasing people's financial knowledge and skills is the best first step to a lifetime of financial success," said Robert Cook, President and CEO of FINRA. "We appreciate the Congressional Financial Literacy and Wealth Creation Caucus, particularly Caucus Co-Chairs Kim and Beatty, for shining a spotlight on this important issue."

"TIAA is committed to securing a better retirement for millions of American workers, a mission that is critical considering over 55 million American workers lack access to an employer-sponsored retirement plan," said Bret Hester, TIAA Executive Vice President and General Counsel. "We appreciate today's event and collaboration with the Congressional Financial Literacy and Wealth Creation Caucus, particularly Representatives Beatty and Kim, and our industry colleagues, to share the importance of retirement savings and solutions like lifetime income that provide a paycheck throughout retirement, and can put more working Americans on the path toward a secure financial future."

"FICO is proud to support the essential work of the Congressional Financial Literacy and Wealth Creation Caucus through our participation in the Financial Literacy Resource Fair," said Will Lansing, CEO of FICO. "Through our programs connected to educating consumers about their FICO Scores and providing them with resources that support strong financial health, we share in the Caucus' commitment to making meaningful impacts in communities across the country."

About the Congressional Financial Literacy and Wealth Creation Caucus

The Financial Literacy and Wealth Creation Caucus endeavors to provide Americans with the tools and resources necessary for economic stability, wealth generation, and prosperity. This caucus develops and advocates for comprehensive, result-driven strategies that empower individuals to make sound financial decisions, achieve their economic objectives, and secure a robust financial foundation for themselves and future generations. The caucus aims to promote education, policy development, and public-private collaboration to advance financial literacy.

For a full list of fair participants see HERE(link is external).

For additional photos from the event click HERE(link is external).

For video of Reps. Beatty and Kim's remarks click HERE(link is external).

For additional videos including interviews with fair attendee April Stewart and participating organizations click HERE(link is external).

For inquiries, please contact Cassandra Johnson at [email protected](link sends email).

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