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REGULATORY COMMENT CALL: Financial Education Core CompetenciesCUNA
Once adopted, the core competencies will be used to establish a clear understanding about what individuals should know and the basic concepts program providers should cover. Ultimately, the goal is to put the core competencies into a format and language that are both easily accessible and easily remembered, similar to the “food pyramid.”
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The Department of the Treasury, as chair of the Financial Literacy and Education Commission (FLEC), has issued a notice and request for comment on a proposed set of financial education core competencies. The five core concept areas are: earning; spending; saving; borrowing; and protecting against risk.