Washington State Department of Financial Institutions

News Release

Friday, April 25, 2008

Lyn Peters, Director of Communications, Department of Financial Institutions
PH (360) 902-8731 lpeters@dfi.wa.gov

Jeremy Lushene, Communications Consultant, Department of Financial Institutions
PH 360.902.0506, jlushene@dfi.wa.gov


Work Group Assessing Financial Literacy In Washington, Seeks To Increase Statewide Consumer Education

OLYMPIA - Responding to Governor-sponsored legislation to assess financial literacy in Washington State, the Washington Financial Literacy Work Group was created. The work group’s 27 members conducted their first meeting from 8 a.m. to noon Friday, April 25 at Highline Community College.

This group is tasked with addressing the issues presented in SENATE BILL 6272 Chapter 3, Laws of 2008, supported and signed by Governor Chris Gregoire Feb. 11, 2008:

Members of this work group will determine the status of financial literacy in Washington State and define what action is necessary to increase financial literacy at all age levels. The group will provide regular interim reports on their findings and submit a final report to the governor and legislature by Dec. 1, 2008.

“Financial literacy is a critical tool in assisting Washington residents attain financial freedom,” DFI Director Scott Jarvis said. “This group will do the heavy lifting necessary to identify steps the State needs to take to ensure financial education is readily available for all Washington residents every stage of their life — from cradle to grave."

“This workgroup is being asked to find better methods of communication and information dissemination,” Jarvis continued. “They will propose more effective ways of partnering with organizations -- state, private, and non-profit, and suggest how the state can best increase financial literacy throughout the state.”

Washington Financial Literacy Work Group members include:

For details on other financial education events and the partners conducting them, visit DFI’s Financial Literacy Blog “Money Talks” at http://finlit.blogspot.com/ or go to www.dfi.wa.gov/financial-education/calendar.htm to view the DFI Financial Literacy Outreach calendar.

About DFI
www.dfi.wa.gov ▪ 360.902.8700 ▪ 877.746.4334 ▪ En Espaņol 877.976.4422
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders, and securities brokers and dealers. The department has won numerous awards for its financial literacy and outreach programs developed to protect consumers from financial fraud. In addition to posting information about licensees and administrative actions, the DFI’s Web site features consumer tips on a variety of financial fraud-related topics. For more financial education news, visit DFI’s Financial Literacy Blog “Money Talks” at http://finlit.blogspot.com/.