Committees
Governor’s Council on Financial Literacy Subcommittees
Formal education in schools—Youth are receiving a
failing grade in financial literacy. Meanwhile, unprecedented access to
credit and financial products and services abounds. Formal education is
the best means, and most predictive, to promote good financial decisions
and behavior. For financial literacy to be lasting, it needs to be systemically
and effectively taught in our classrooms.
How can Wisconsin better prepare youth to enter our evolving financial
system?
In what ways can Wisconsin help schools promote financial literacy?
What infrastructure needs to be built or improved?
Mark Schug (Chair)
University of Wisconsin - Milwaukee
Deborah Mahaffey, Designee for
Elizabeth Burmaster, Superintendent
WI Department of Public Instruction
Douglas Timmerman
AnchorBank
Employee Education Programs—The responsibility
of pension management has shifted from the employer to the employee yet
little or no education has augmented this swift trend. Further, little
or no financial education opportunities existed for these adults in school
growing up. Meanwhile, more financial services and products exist than
ever before. Research shows financial education helps both employers and
employees.
How can Wisconsin work with employers to reach adults in the workplace
to provide financial education.
Meridee Maynard (Chair)
Northwestern Mutual Life Insurance Co
Kevin McKinley
Author, Professional Financial Planner
Emerging Market Opportunities—Groups of individuals
which do not currently have a relationship with traditional financial
institutions, i.e., “unbanked.” Some groups include minorities,
low to moderate income, immigrants, and Native Americans. It is predicted
that this market will significantly increase in the next two decades.
How will Wisconsin address the financial literacy needs of this growing
citizenry?
Deborah Blanks (Chair)
Social Development Commission
Wendy Baumann
WI Women's Business Initiative Corp
William Wilcox
CBM Credit Education Foundation, Inc.
Prevention of Fraud Programs—Elderly are the top
target group of investment fraud. Other groups are targeted for unscrupulous
lending and insurance practices. Regulation and licensing can only go
so far to prevent bad financial transactions. New services and competition
can provide a solution to drive down high-cost transactions.
Where and how can financial education help prevent fraud?
What incentives could drive competition to make it unprofitable to offer
bad financial products and services?
Eileen Mallow, Designee for
Jorge Gomez, Commissioner
Office of the Commissioner of Insurance
David Mancl
WI Jump$tart Coalition for Personal Financial Literacy
Roger Irvin, Secretary
WI Department of Revenue
Family Financial Literacy Programs— Children’s
first teacher is the parent. Parents and guardians are in a unique role
in educating youth by example and by tutelage. Further, adults face a
myriad of financial decisions as they manage household money matters
with short term and lasting implications.
How can Wisconsin support financial education in its most basic economic unit—the
household?
Cathie Tierney (Chair)
Community First Credit Union
Alejo Torres
Federal Reserve Bank of Chicago
David Hackworthy
Robert W. Baird & Co., Inc.
Ann Peggs
WI Women's Council
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