WASHINGTON, February 16, 2005 –The following is a statement from North American Securities Administrators Association President and New Jersey Bureau of Securities Chief Franklin L. Widmann on the formation of the Financial and Economic Literacy Caucus. Organized in 1919, NASAA is the oldest international organization devoted to investor protection. NASAA’s membership consists of securities administrators in the 50 states, the District of Columbia, Puerto Rico, Canada, and Mexico.
“NASAA commends Representatives Judy Biggert (R-IL) and Rubén Hinojosa (D-TX) for their leadership in forming the Financial and Economic Literacy Caucus. Providing a forum for Members of Congress to promote policies advancing financial literacy and economic education is an important step to ensuring that our citizens have the tools necessary to build financial knowledge and financial security.
“State securities regulators share your concern about the deficient level of financial literacy in this country and the impact it has on personal financial decision-making. And we also share a common dedication and commitment to doing something about it.
“We stand ready to assist the Caucus and serve as a resource, as you move forward in developing and implementing programs to improve the level of financial literacy in this country.”
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