Last week, the White House hosted a Summit on Financial Capability and Empowerment addressing the gap between our complex financial marketplace and consumers’ knowledge about them—or lack thereof. Our CEO and President Nan J. Morrison was among the industry leaders invited to attend the conference, at which several important announcements were made.
David Nelms, CEO of Discover Financial Services, announced Chicago Public Schools’ plans to implement a new Financial Literacy Framework at the K-12 level. This initiative is the result of a 4-year partnership with CEE, Discover and other industry partners, created to provide students with the necessary real-world skills to navigate today’s financial landscape. CEE will also provide the curriculum for a 12th-grade personal finance capstone course, funded by a $1 million grant from Discover.
Also of note, the Administration announced its new Financial Capability Toolkit containing key information for K-12 schools, institutions of higher education, employers, and community leaders. Several of CEE’s resources are highlighted in the guide, including this year’s Survey of the States and our Financial Fitness for Life program.