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11/14/2017

Consumer Financial Protection Bureau (CFPB)

Annual report on financial literacy

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The Consumer Financial Protection Bureau just published its annual report on financial literacy and we are pleased to share it with you. The report describes how we are assisting consumers as they navigate the financial marketplace to reach their own life goals and build financial well-being. This includes providing online and print tools and information and reaching consumers with financial education resources in their own communities.

Read the report.

Empowering people to take more control over their economic lives is essential to our mission. That’s why we’ve made financial education a critical component of our work. We continue to  focus on preparing and equipping consumers in their economic lives by providing guides they can use for navigating big life decisions with a financial component such as buying a car, going to college, or retiring; and resources they can use to get just-in-time answers to money questions that may arise as they make financial choices such as questions about bank accounts, credit cards, credit reports, mortgages, student loans, and responding to debt collectors.

We want all consumers to be able to make decisions that support their own life goals and help them achieve financial well-being. We’re working to reach consumers nationwide through online tools and information; and in their communities through schools, workplaces, and libraries, and by integrating financial capability training into other programs and services. We’re developing approaches to provide youth with opportunities to develop the knowledge and skills to build a healthy financial future. We’re working to amplify the impact of financial educators and others who work with consumers by identifying what makes financial education effective. We also undertake efforts tailored to the needs of specific populations, such as servicemembers, students, older consumers, and consumers who are economically vulnerable.

The report also features a consolidated reference list of our tools, publications, and reports. 

At the CFPB, we are committed to helping consumers make sound financial choices. We are doing all we can to protect people by ensuring that consumer financial markets work better for them – that they are transparent, reliable, and fair. This work goes hand in hand with our work to educate consumers and help them build their financial capability. Consumers need both a safe, transparent marketplace and the financial capability to navigate that marketplace effectively to serve their own life goals.


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