On September 26, 2013, Lois Kitsch, National REAL Solutions™ Program Director for the National Credit Union Foundation (NCUF), participated in a Financial Literacy and Education Commission field hearing on Youth and Post-secondary Financial Education, organized by the Financial Literacy and Education Commission.
The Commission was established under the Fair and Accurate Credit Transactions Act of 2003 and is charged with creating a national strategy on financial education. The FLEC is chaired by Jacob Lew, the Secretary of the Treasury, and Richard Cordray, the Director of the Consumer Financial Protection Bureau (CFPB), is the vice chairman. The event was held on the University of Wisconsin campus in Madison and featured remarks from CFPB Director Richard Cordray.
Kitsch was speaking primarily on NCUF’s work around Reality Fairs on a panel entitled “Building youth financial capability through experiential learning.” Reality Fairs are interactive financial literacy tools for high school students and have proved successful for many credit unions and state leagues. 26 states are offering students Reality Fair Programs today – fourteen of which can be tied directly to REAL™ Solutions. An estimated 10,000 students attended a fair in 2012 and that number is expected to grow substantially in 2013.
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