Financial Education
A title of the FACT Act that doesn't directly affect financial institutions placed a heavy responsibility on their regulators. The title requires Treasury, FTC, bank regulatory agencies and others to develop consumer financial information materials. The first products are now available at the new website, www.mymoney.gov
The site will include information on important financial management topics such as budgeting and taxes, credit, financial planning, home ownership, privacy and retirement planning.
In addition to the website, the agencies have developed a financial education toolkit. Consumers can call 1-800-MY MONEY for a free toolkit in either English or Spanish.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 11, 10/04
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