Cordray: Financial illiteracy undermines economic strength

09/26/2013 | Credit Union Times

The lack of financial literacy may have reached crisis proportions in the U.S., says Richard Cordray, the head of the Consumer Financial Protection Bureau. "The neglect of financial education can undermine progress in any nation organized around a free market and founded on a regime of personal responsibility, like the United States. Yet Americans have neglected this important matter," Cordray said as part of a panel discussion.

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