Controller John Chiang and Assembly Member Mike Eng today co-hosted a Financial Literacy Fair at the State Capitol, bringing together credit counselors, banks, financial services, and education, consumer protection and community-based organizations to tackle the challenge of enhancing financial skills for California families.
“All Californians deserve direct access to basic financial information that helps them make wise investments with their money, establish college funds for their children and save for their own retirement,” Chiang said. “Whether it is educating a college freshman about credit card debt, or a low-income worker about the dangers of predatory loans, empowering California families with good financial information will strengthen our communities and our State.”
The Controller is co-sponsoring with the New America Foundation legislation authored by Assembly Member Eng that will encourage the State to partner with businesses and non-profit organizations and share in developing information that can help California consumers make sound fiscal choices. The bill, AB 597 also will create an advisory committee focused on improving financial literacy throughout California.
“A well-informed and financially literate consumer can save thousands of dollars, avoid abnormal fees and charges and build up savings for retirement,” said Assembly Member Mike Eng (D-Monterey Park). “AB 597 makes financial literacy a priority in California by establishing a fund for the sole purpose of empowering our citizens to make informed choices and make them less susceptible to scams and predators.”
Almost 20 exhibitors participated by providing information about wise investments, financial planning, consumer protection, credit counseling and ways to better manage money, save on taxes and enhance money skills.
Joining the Controller and Eng at the press conference and fair were Maria Sotero of the New America Foundation, and Assembly Member Alyson Huber (D-El Dorado Hills).
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