Letter to the Treasury on Updating the National Financial Literacy Strategy

To Whom It May Concern:

The ABA Foundation appreciates the opportunity to submit comments to the Department of the Treasury as it updates the U.S. National Strategy for Financial Literacy. As the 501(c)3 arm of the American Bankers Association, we welcome Treasury's leadership in strengthening and modernizing the nation's financial capability ecosystem.

For more than 100 years, the ABA Foundation has partnered with banks, community organizations, and government agencies to expand access to high quality financial education. Through national financial education programs, we have helped banks reach millions of consumers with trusted, practical financial guidance that meets people where they are and supports long-term financial resilience.

Our central message is clear: Banks are essential drivers of financial capability and resilience in communities across the United States. With trusted local presence, deep customer relationships, and a longstanding commitment to financial education, banks are uniquely positioned to deliver financial education, expand access to safe and affordable financial products, and help individuals and families build long term financial security.

The updated National Financial Literacy Strategy should leverage the capabilities of the banking sector to advance national goals at scale. Treasury and FLEC can amplify impact by strengthening public-private partnerships to deliver coordinated and high-quality financial education, modernize financial literacy to reflect today's economic realities and emerging financial technologies, expand access to financial counseling, promote early wealth-building tools for youth, and prioritize fraud and scam prevention.

Together, these efforts will better equip consumers to navigate an increasingly complex financial landscape and build long-term financial resilience.

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