State Assemblyman Ted Lieu has received the “Government Leadership in Financial Literacy Award” from the California Jump$tart Coalition for championing financial literacy.
Lieu received the award Wednesday, April 23rd, at the Summit on Financial Literacy, which is hosted by the California Jump$tart Coalition and the California Society of Certified Public Accountants.
The California Jump$tart Coalition periodically recognizes outstanding efforts by educators and community leaders to improve financial literacy with awards, but this is the first time in the history of the award that it has been given to a legislator.
“We are pleased that Assemblymember Lieu is the first recipient,” said Jim Greenwood, chairman of the California Jump$tart Coalition. “He embodies the leadership that this award is meant to recognize.”
Lieu is the author of Assembly Bill (AB) 2123, which creates the California Financial Literacy Initiative — a clearing- house of information on successful financial literacy programs geared toward consumers of all ages. The bill is sponsored by California State Controller John Chiang.
AB 2123 is in response to the growing number of people making devastating financial decisions due to inadequate financial education, resulting in such financial catastrophes as the mortgage crisis and plummeting credit scores, Lieu said. The assem- bly man has also held two public hearings of the Assembly Banking and Finance Committee on the subjects of financial literacy and the “unbanked.”
“I am honored to receive this prestigious award,” Lieu said. “We send far too many young people into the world without the basic financial knowledge necessary to survive in an increasingly complex world. I’m just glad that I can be part of the movement to change that.”
The mission of the California Jump$tart Coalition for Personal Financial Literacy is to improve the personal financial literacy of California’s youths by helping the personal finance education community become more connected, effective and powerful. The coalition also supports the implementation of personal finance education at every level from K-12th grades.