YAKIMA, Wash. - Noting that many Americans do not understandbasic financial concepts, the head of the Washington Credit UnionLeague stressed the importance of financial literacy efforts,including measures moving through the state Legislature to haveschools teach the subject. Speaking at a National ConsumerProtection Week event here, John Annaloro, president and chiefexecutive officer of the league, said financial literacy effortscould help reverse the trend that has savings rates at an all-timelow and personal indebtedness at an all-time high. He also notedthat consumers lacking financial skills were often preyed upon byothers. The league is backing two state measures, House Bill 2455and Senate Bill 6212, which would allow for financial education tobe taught in schools. Such programs, Annaloro said, would helpconsumers become more financially savvy and allow them to get ahandle on their monetary affairs. The event was sponsored by theBetter Business Bureau of Yakima. The theme of the 2004 NationalConsumer Protection Week is financial literacy.

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