National Financial Capability Month, 2016

Proclamation 9413 of March 31, 2016

National Financial Capability Month, 2016

By the President of the United States of America

A Proclamation

When every American has the tools they need to get
ahead and contribute to our country's success, we are
all better off. Since the recession, we have built our
economy to be better and stronger than before, but we
still have work to do to make hardworking families'
paychecks go further. Ensuring people have the
resources to make informed decisions about their
finances is critical in this effort, and during
National Financial Capability Month, we recommit to
equipping individuals with the knowledge and
protections necessary to secure a stable financial
future for themselves and their families.

At some of life's most important junctures--including
buying a home, pursuing an education, or saving for
retirement--having access to reliable information about
our country's financial system can help people avoid
being ripped off or sucked into cycles of debt they
cannot get out of. That is why my Administration is
promoting tools to protect and empower individuals,
working to increase borrowers' understanding of what
they are getting into before they take out a loan, and
educating more people on how to think about their
money. I encourage all Americans to call 1-800-FED-INFO
or visit www.MyMoney.gov and www.ConsumerFinance.gov
for access to free and reliable financial information.

No young person should be saddled with excessive debt.
In addition to striving to inform young people of the
dangers of taking out too much consumer debt, my
Administration launched the ``Know Before You Owe''
campaign, which is helping America's college students
know their full range of options for financing a higher
education. I also created the President's Advisory
Council on Financial Capability for Young Americans to
help educate our rising generation on important money
management skills so they can live with security and
make positive contributions to our economy. So more of
our people can retire with dignity and stability, we
established a new type of savings bond, myRA, to help
more Americans easily save for retirement. And I signed
the Dodd-Frank Wall Street Reform and Consumer
Protection Act, which, among other consumer
protections, established the Consumer Financial
Protection Bureau, the first agency solely dedicated to
protecting consumers from unfair practices and
predatory products in financial services.

As our economy continues to grow, we must preserve the
basic notion in our country that hard work will be
rewarded and that no matter who you are or where you
come from, you can make it if you try. This month, let
us encourage informed financial decisions and promote
resources that help the American people make them, and
let us reaffirm our belief in the idea that opportunity
should be within reach for all who are willing to work
for it.

NOW, THEREFORE, I, BARACK OBAMA, President of the
United States of America, by virtue of the authority
vested in me by the Constitution and the laws of the
United States, do hereby proclaim April 2016 as
National Financial Capability Month. I call upon all
Americans to observe this month with programs and
activities to improve their understanding of financial
principles and practices.

IN WITNESS WHEREOF, I have hereunto set my hand this
thirty-first day of March, in the year of our Lord two
thousand sixteen, and of the Independence of the United
States of America the two hundred and fortieth.