Members
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Eldar Shafir, a Princeton University psychology professor who focuses on behavioral economics, his appointment to the Council was announced April 9, 2012. [2]
The President's Advisory Council on Financial Capability (established by Obama On January 29, 2010, by signing Executive Order 13530) was the successor to the President's Advisory Council on Financial Literacy (stablished by Bush, January 22, 2008). The last meeting of committee was in November 2012, and the Council officially ended on January 29, 2013. Its mission was to "improve Americans' understanding of financial products and terms, expand financial access, and provide appropriate and robust consumer protection." [1] It was operated by the U.S. Treasury Department.
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Eldar Shafir, a Princeton University psychology professor who focuses on behavioral economics, his appointment to the Council was announced April 9, 2012. [2]
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the National Security Council, and fifth in the U.S. presidential line of succession.
John William Snow is an American economist, attorney, and businessman who is the former CEO of CSX Corporation and served as the 73rd United States secretary of the treasury under U.S. President George W. Bush. He replaced Secretary Paul H. O'Neill on February 3, 2003, and was succeeded by Henry Paulson on July 3, 2006. Snow submitted a letter of resignation on May 30, 2006, effective "after an orderly transition period for my successor." Snow announced on June 29, 2006, that he had completed his last day on the job; Robert M. Kimmitt served as acting secretary until Paulson was sworn in. Snow has since worked as chairman of Cerberus Capital Management.
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people. The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.
Robert Edward Rubin is an American retired banking executive, lawyer, and former government official. He served as the 70th U.S. Secretary of the Treasury during the Clinton administration. Before his government service, he spent 26 years at Goldman Sachs, eventually serving as a member of the board and co-chairman from 1990 to 1992.
Sharon L. Lechter is an American accountant, author, and businesswoman. She is the co-author of Rich Dad Poor Dad, and the founder and CEO of Pay Your Family First, a financial education organization.
Henry "Hank" Merritt Paulson Jr. is an American investment banker and financier who served as the 74th United States Secretary of the Treasury from 2006 to 2009. Prior to his role in the Department of the Treasury, Paulson was the chairman and chief executive officer (CEO) of major investment bank Goldman Sachs.
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the United States' central bank. Missouri is the only state to have two main Federal Reserve Banks.
Jacob Joseph Lew is an American attorney and diplomat serving as the United States ambassador to Israel. He was the seventy-sixth United States secretary of the treasury from 2013 to 2017. A member of the Democratic Party, he also served as the twenty-fifth White House chief of staff from 2012 to 2013 and as director of the Office of Management and Budget in both the Clinton administration and Obama administration.
Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge. Financially sophisticated individuals are good at financial calculations; for example they understand compound interest, which helps them to engage in low-credit borrowing. Most of the time, unsophisticated individuals pay high costs for their debt borrowing.
John Hope Bryant is an American financial literacy entrepreneur and businessman. Bryant is the founder, chairman and chief executive officer of nonprofit Operation HOPE, chief executive officer of Bryant Group Ventures and The Promise Homes Company, co-founder of Global Dignity, advisor to business and government and author of bestselling books on economics and leadership. He served as vice-chair of President Bush's Council on Financial Literacy, a member of President Obama's Advisory Council on Financial Capability, the vice chair on the U.S. President's Advisory Council on Financial Literacy and as the chairman of the Committee on the Underserved.
Lael Brainard is an American economist serving as the 14th director of the National Economic Council since February 21, 2023. She previously served as the 22nd vice chair of the Federal Reserve between May 2022 and February 2023. Prior to her term as vice chair, Brainard served as a member of the Federal Reserve Board of Governors, taking office in 2014. Before her appointment to the Federal Reserve, she served as the under secretary of the treasury for international affairs from 2010 to 2013.
Timothy Franz Geithner is an American former central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. Since March 2014, he has served as president and chairman of Warburg Pincus, a private equity firm headquartered in New York City.
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
Neal Steven Wolin is an American lawyer. He is the CEO of the corporate advisory firm Brunswick Group, an equity partner of Data Collective, a board partner of Social Capital, and a limited partner advisor of Nyca Partners. He was the longest-serving Deputy Secretary of the U.S. Department of the Treasury and also served as Acting Secretary of the Treasury in early 2013.
Jill E. Sommers was sworn in as a commissioner of the Commodity Futures Trading Commission on August 8, 2007 to a term that expired April 13, 2009. She was nominated on July 20, 2009 by President Barack Obama to serve a five-year second term., and confirmed by the United States Senate on October 8, 2009.
Beth Kobliner is an American personal finance commentator, journalist and author of the New York Times bestsellers Get a Financial Life: Personal Finance in Your Twenties and Thirties. and Make Your Kid a Money Genius . In 2010, she was appointed by President Obama to the President's Advisory Council on Financial Capability, and was instrumental in developing the council's Money as You Grow initiative. The site, MoneyAsYouGrow.org, has reached over one million visitors. In February 2014, Kobliner was appointed by President Obama to the President's Advisory Council on Financial Capability for Young Americans.
Mark A. Weinberger is an American businessman. He is the former global chairman and CEO of EY. Weinberger currently sits on several boards of directors, including those of Metlife, Johnson & Johnson Saudi Aramco. and JPMorgan Chase. Earlier in his career he has also held several posts in the public sector in Washington, D.C., including time as Assistant Secretary of the Treasury for Tax Policy.
Ruth Porat is a British–American business executive who is the President and Chief Investment Officer of Alphabet and its subsidiary Google, LLC and prior to that was Chief Financial Officer of the same companies from 2015 to 2024. Prior to joining Google, Porat was the Executive Vice President & Chief Financial Officer of Morgan Stanley from January 2010 to May 2015.
Annamaria Lusardi is an Italian-born economist and the Denit Trust Distinguished Scholar and Professor of Economics and Accountancy at Stanford University School of Business. In 2011 she founded and continues to serve as the Academic Director of the Global Financial Literacy Excellence Center. Her interests focus on financial literacy and financial education.
Ted Gonder is an American entrepreneur and the co-founding CEO of Moneythink, a nonprofit organization dedicated to building the financial capability of young adults through technology-enhanced peer mentorship. Until July 2015, he was also a member of the U.S. President's Advisory Council on Financial Capability for Young Americans.
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