Subchapter M. FINANCIAL EDUCATION AND LITERACY
Sec.
6.201. Office of Financial Education.
6.202. Governor’s Task Force for Working Families.
6.203. Responsibilities of other State agencies.
6.204. Effective date.
The provisions of this Subchapter M adopted by Executive Order No. 2004-7, dated April 29, 2004, 34 Pa.B. 2326, unless otherwise noted.
The Office of Financial Education (Office) is created.
(1) Responsibilities. The Office will be responsible for:
(i) Coordinating financial education programs across Commonwealth agencies.
(ii) Developing and maintaining a comprehensive database of financial education programs, materials and resources.
(iii) Providing support for the Task Force on Working Families.
(iv) Advising the Governor and other State agencies on financial education matters.
(v) Representing the Commonwealth in developing partnerships with appropriate public and private financial education agencies.
(vi) Performing other duties assigned by the Governor or the Secretary of Banking.
(2) Director. The Office will be headed by a Director of Financial Education.
(3) Housing. The Office will be housed within the Department of Banking.
The Governor’s Task Force (Task Force) for Working Families is created.
(1) Responsibilities. The Task Force will be responsible for:
(i) Identifying and developing strategies and programs to:
(A) Build incomes and assets for working families.
(B) Promote financial education and literacy.
(C) Protect working families from predatory and abusive financial services.
(ii) Promoting the coordination of programs that affect the financial viability of working families.
(iii) Working with charitable foundations, local government, advocacy groups, community and religious leaders, academia, policy and research organizations, and other entities, as may be appropriate.
(2) Report. The Task Force shall issue a final report to the Governor containing its findings and recommendations and conclude its work by March 1, 2005.
(3) Membership. The Task Force shall consist of the following members, when appropriate, to be appointed by and serve at the pleasure of the Governor. The Governor will appoint two members to serve as Co-Chairs of the Task Force.
(i) Adjutant General.
(ii) Secretary of Aging.
(iii) Secretary of Banking.
(iv) Secretary of the Budget.
(v) Secretary of Community and Economic Development.
(vi) Secretary of Education.
(vii) Insurance Commissioner.
(viii) Secretary of Labor and Industry.
(ix) Secretary of Public Welfare.
(x) Secretary of Revenue.
(xi) Secretary of the Commonwealth.
(xii) A member of the Securities Commission.
(xiii) President of the Pennsylvania Higher Education Assistance Agency.
(xiv) Executive Director of the Pennsylvania Housing Finance Agency.
(xv) Director of the Governor’s Policy Office.
(xvi) Four members of the House of Representatives, two appointed by the Majority Leader, and two by the Minority Leader.
(xvii) Four members of the Senate, two appointed by the Majority Leader, and two by the Minority Leader.
(xviii) Representatives of the financial services industry, social service agencies, business organizations, organized labor and other advocacy organizations, to ensure broad representation of interests.
(4) Compensation. Members of the Task Force will receive no compensation for their service.
Neither the Governor’s Task Force for Working Families (Task Force) nor the Office of Financial Education (Office) shall have direct responsibility for the day-to-day operations of any State agency. State agencies under the jurisdiction of the Governor shall provide services, information, records or materials, as necessary, for the Office and the Task Force to perform their responsibilities. The Department of Banking will provide administrative support for the Office, Task Force and the Director.
This subchapter takes effect immediately.
§ 6.201. Office of Financial Education.
§ 6.202. Governor’s Task Force for Working Families.
§ 6.203. Responsibilities of other State agencies.
§ 6.204. Effective date.
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