TALLAHASSEE, Fla. (3/17/15)--In a recent op-ed featured in the Pensacola News Journal, Florida Office of Financial Regulation Commissioner Drew Breakspear offered support of a required one-half credit class in financial literacy for state high school students--legislation supported by the League of Southeastern Credit Unions (LSCU) (eSignal Daily March 10).
Legislation marking the third and final phase of the process to establish the requisite class, called "The Money Course," was announced in February at a press conference with league representation in attendance (News Now Feb. 17).
"Current levels of consumer knowledge and confidence have made it clear that financial literacy in America should be a national priority," Breakspear wrote in support of "The Money Course." "We would not allow a young person to get in the driver's seat of a car without first teaching them how to drive, and yet we allow our youth to enter the complex financial world often without any related education."
He also praised LSCU and credit union support for the bill. "The League of Southeastern Credit Unions and the state's 156 credit unions, have championed this cause and they continue to work with members of the Florida State Legislature to bring a mandatory, one-half credit class in financial literacy into Florida public schools," Breakspear wrote.
"As the LSCU works through the approval and design of this new course, the Florida Office of Financial Regulation looks forward to lending our support."
Both the content and the cost of "The Money Course" had already been approved with HBs 29 and 92 in 2013 and 2014.
The third phase, adoption, will be worked on by the league, Sen. Dorothy Hukill (R-Port Orange)--who was recently awarded the CUNA Desjardins Financial Education Award for State Government Policymakers--Rep. Heather Fitzenhagen (R-Fort Myers) and Rep. Manny Diaz (R-Hialeah).