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Committee Detail

Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NamePresident's Advisory Council on Financial CapabilityAgency NameDepartment of the Treasury
Fiscal Year2013Committee Number73526
Original Establishment Date Committee StatusTerminated
Actual Termination Date1/29/2013Committee URLhttp://www.treasury.gov/resource-center/financi...
New Committee This FYNoPresidential Appointments*Yes
Terminated This FYYesMax Number of Members*24
Current Charter Date6/28/2012Designated Fed Officer Position Title*Director, Office of Financial Education
Date Of Renewal Charter Designated Federal Officer PrefixMs.
Projected Termination Date1/29/2013Designated Federal Officer First Name*Louisa
Exempt From Renewal*NoDesignated Federal Officer Middle NameM.
Specific Termination AuthorityExecutive Order 13530Designated Federal Officer Last Name*Quittman
Establishment Authority*PresidentialDesignated Federal Officer Suffix
Specific Establishment Authority*Presidential Executive Order 13530, as amended by Presidential Executive Order 13591Designated Federal Officer Phone*(202) 622-8103
Effective Date Of Authority*1/29/2010Designated Federal Officer Fax*(202) 622-6243
Committee Type*ContinuingDesignated Federal Officer Email*louisa.quittman@treasury.gov
Presidential*Yes
Committee Function*Non Scientific Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Terminate
Legislation to Terminate RequiredNo
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The President's Advisory Council on Financial Capability will report to the President, through the Secretary of the Treasury, on the status of financial capability in the United States; progress made in implementing the Federal government’s policy to encourage financial capability among the American people; and recommended means to further implement the Federal government’s policy to encourage financial capability among the American people. Where appropriate in providing advice and recommendations, the Council shall take into consideration the particular needs of traditionally underserved populations.
How is membership balanced?*The President’s Advisory Council on Financial Capability is composed of non-governmental representatives with relevant backgrounds, such as financial services, consumer protection, financial access, and education. The composition of the Council reflects the views of diverse stakeholders.
How frequent & relevant are cmte mtgs?*Estimated Number of Meetings per Year - 3
Why advice can't be obtained elsewhere?*To help keep America competitive and assist the American people in understanding and addressing financial matters, and thereby contribute to financial stability, it is the policy of the Federal Government to promote and enhance financial capability among the American people. The role of the President’s Advisory Council on Financial Capability is to advise the President and the Secretary of the Treasury on means to promote and enhance individuals’ and families’ financial capability.
Why close or partially close meetings?N/A
Recommendation RemarksExecutive Order 13530 expired on Jan 29, 2013. A decision was made not to continue the committee.
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesYesAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryYesAction OtherNo
Outcome Increased Customer SatisfactionYesAction CommentN/A
Outcome Implement Laws/Reg RequirementsNoGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentN/ANumber Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentGrants Review CommentN/A
Number Of Recommendations*10Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentTwo recommendations were approved in April 2011, one in July 2011, three in November 2011, one in January 2012, and three in April 2012.Access Agency WebsiteYes
% of Recs Fully Implemented*40.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentFour recommendations have been fully implemented by the Treasury Department or other agencies: Spark technologically creative channels to promote financial capability and financial access through a contest in the private sector for mobile device applications (“apps”). Support data collection on the financial knowledge and capability of American adults and youth to create baselines and to measure change over time. That the United States' participate in the financial literacy module of an internationally-recognized standardized educational assessment for 15-year olds (PISA).That the Department of the Treasury support a newly-created private-sector award program recognizing employers that provide outstanding financial education to their employees (WLIFE).Access GSA FACA WebsiteYes
% of Recs Partially Implemented*20.00%Access PublicationsNo
% of Recs Partially Implemented CommentTreasury and other agencies is in the process of implementing activities related or part of two recommendations: development of increased financial capability resources to federal employees and Support development and dissemination of universal outcome metrics, program evaluation standards and financial education research standards to improve the quality and effectiveness of programs and research and help educators choose programs best suited for their learners’ objectives. . The remaining recommendations are still under review and consideration.Access OtherYes
Agency Feedback*YesAccess CommentThe public is invited to submit written statements to the Council. Written statements should be sent by any one of the following methods: E-mail pacfc@treasury.gov; or Paper Statements: Send paper statements to the Department of the Treasury, Office of Financial Education, Main Treasury Building, 1500 Pennsylvania Avenue, NW, Washington, DC 20220.
Agency Feedback CommentAgency provides updates at meetings regarding implementation status of recommendations, if applicable.Narrative Description*One of the goals of the Department of the Treasury is to strengthen every aspect of the financial system. That means not only strong reforms and consumer protections, but also improved financial capability. The Obama Administration is committed to expanding the financial tools and education available to every American to help ensure that families are more secure for their financial futures. Whether it’s homeownership, personal savings, or retirement planning, the financial well-being of every household can impact its community - and the financial well-being of the United States’ communities is critical to national financial stability. The President’s Advisory Council on Financial Capability will advise the President and the Secretary of the Treasury on means to promote financial capability among the American people, and thereby contribute to financial stability.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members*$0.00Est Payments to Non-Fed Members Next FY*$0.00
Payments to Federal Members*$0.00Est. Payments to Fed Members Next FY*$0.00
Payments to Federal Staff*$49,008.00Estimated Payments to Federal Staff*$0.00
Payments to Consultants*$0.00Est. Payments to Consultants Next FY*$0.00
Travel Reimb. For Non-Federal Members*$0.00Est Travel Reimb Non-Fed Members nextFY*$0.00
Travel Reimb. For Federal Members*$0.00Est Travel Reimb For Fed Members*$0.00
Travel Reimb. For Federal Staff*$0.00Est. Travel Reimb to Fed Staff Next FY*$0.00
Travel Reimb. For Consultants*$0.00Est Travel Reimb to Consultants Next FY*$0.00
Other Costs$2,540.00Est. Other Costs Next FY*$0.00
Total Costs$51,548.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)*0.33Est. Fed Staff Support Next FY*0.00
Hide Section - Custom Links

Custom Links

     Committee Level Reports               
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

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Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-006746President's Advisory Council on Financial Capability2012
 COM-008514President's Advisory Council on Financial Capability2011
 COM-008592President's Advisory Council on Financial Capability2010