Since when is financial literacy a bad thing?
July 25, 2008 | Mother Jones, media coverage | Comments (0)Mother Jones reporter, Stephanie Mencimer, is working on a story where she is trying to connect CFSA’s community outreach efforts with racial politics. This is a sad attempt to undermine the financial literacy efforts of CFSA and its member companies.
CFSA’s Director of Partnering & Program Development spoke at length with the reporter and described the industry’s financial literacy efforts in detail. She gave multiple examples of industry efforts and partnerships with non ethnic groups. She explained that CFSA has taken up financial literacy as their community outreach focus and, in doing that, the association tends to partner with community-based groups that work with youth and community volunteers to launch Youth Learn & Save and their Community Volunteer Train-the-Trainer Workshops. She went on to discuss additional partnerships focusing on financial literacy including relationships with national organizations with state and local chapters.
We haven’t seen the story yet, but we know that Mother Jones is in cahoots with critics of the payday lending industry who, for years, have railed against these financial literacy efforts. Payday Pundit questions the intentions of any “consumer advocates” who rail against financial literacy efforts. Shouldn’t financial literacy be something we all agree on?
Read more about CFSA’s financial literacy efforts.
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