WASHINGTON — NCUA Board Chairman JoAnn Johnson was among a clutch of federal financial regulators who reported making progress toward helping Americans improve their financial literacy while acknowledging that there is much more left to do.
Johnson and the other regulators appeared at an April 15 hearing on federal financial literacy efforts before the House Financial Services Committee where most legislators appeared pleased that at least some progress was being made while expressing some frustration with the pace of progress.
Chairman Barney Frank started the hearing off by noting that the topic was very important though "not very sexy" and expressing hope that the current financial situation in much of the country had served to help focus public attention on the subject.
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Representative Rub?(C)n Hinojosa (D-TX) was one of the legislators expressing frustration with the pace of the financial literacy progress and with how the Financial Literacy Education Commission had spent money appropriated for its efforts.
Johnson drew less of Hinojosa's disapproval, however, as she chairs the FLEC subcommittee which overseas the Mymoney.gov Web site which was generally praised for doing a good job.
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