Canadian Bankers Association

Canadian Bankers Association

June 26, 2009 12:08 ET

Canadian Bankers Association Welcomes Creation of Financial Literacy Task Force

TORONTO, ONTARIO--(Marketwire - June 26, 2009) - The Canadian Bankers Association (CBA) today welcomed the announcement by Finance Minister Jim Flaherty of the creation of the federal government's Task Force on Financial Literacy. The task force, which is made up of education leaders and individuals from Canada's financial services industry and the broader private sector, will make recommendations to the Minister of Finance on a cohesive national strategy on financial literacy.

"Canada's banking industry has long recognized the importance of financial literacy and we applaud Minister Flaherty for the creation of this task force," said Nancy Hughes Anthony, President and CEO of the Canadian Bankers Association. "The task force's broad membership brings a range of expertise to the table and we look forward to working closely with its members to ensure Canadians are better able to make informed choices about important financial decisions."

For over a decade, the CBA has been bringing financial literacy to Canadians through its high school seminar program, which has taught more than 180,000 young Canadians about budgeting, borrowing, saving, investing, and protecting themselves from fraud.

Last year, the CBA updated its financial literacy program, now called YourMoney, which continues as a non-commercial, in-class seminar using volunteer bankers to teach senior high school students about responsible money management. The YourMoney program is offered in partnership with the Financial Consumer Agency of Canada.

For more information about the CBA's commitment to financial literacy and the YourMoney program, please visit www.cba.ca and www.yourmoney.cba.ca.

The Canadian Bankers Association (CBA) works on behalf of 50 domestic chartered banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 263,400 employees. The CBA advocates for efficient and effective public policies governing banks and promotes an understanding of the banking industry and its importance to Canadians and the Canadian economy. For more information please visit www.cba.ca.

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