STATE AGENCIES HIGHLIGHT THE IMPORTANCE OF FINANCIAL LITERACY DURING THE MONTH OF APRIL – CALIFORNIA FINANCIAL LITERACY MONTH

SACRAMENTO, CA (April 2, 2013) – The Department of Financial Institutions (DFI), Department of Corporations (DOC), and the Department of Real Estate (DRE) will partner with other state, federal and local government agencies and financial literacy organizations during the 13th Annual California Financial Literacy Month (CAFLM) in April. This coordinated consumer education and awareness campaign encourages individuals throughout the state to take full advantage of free resources designed to improve financial literacy and increase decision-making power.

This year’s theme – “Empowering Californians To Make Well-Informed Financial Decisions” — highlights the importance of making educated and affordable financial decisions to achieve financial goals.

See California Governor Jerry Brown’s letter supporting California Financial Literacy Month.

“It’s important for consumers to have the knowledge and resources to make financial decisions,” said Teveia R. Barnes, Commissioner of Financial Institutions. “Through community partnerships and education and outreach efforts, we can boost the positive outcomes for individuals and families.”

“Events of the last few years have highlighted the need for financial literacy for all consumers,” said Corporations Commissioner Jan Lynn Owen. “I hope all Californians take this opportunity to enhance their financial awareness.”

“Financial literacy knowledge is crucial in enhancing a consumer’s ability to make effective and productive financial decisions,” said Wayne Bell, California Real Estate Commissioner. “Informed and confident financial decision making can have a profound and positive influence on lives and the economy, and I encourage everyone to take full advantage of all the free, informative and valuable resources that are available today.”

During California Financial Literacy Month, DFI, DOC, DRE and its community partners are promoting free resources regarding money management, credit, investing, and learn to prevent identity theft, protect their privacy, and avoid elder financial abuse and other financial fraud and scams.

Regardless of age or financial situation, there are important and useful lessons to learn about financial responsibility. The three state agencies encourage everyone to make an effort to seek information about financial products, compare the costs and fees of financial products and services and read and understand the “fine print” before signing a contract.

CAFLM organizations are reaching out with social media using Twitter, Facebook and Blogs to reach a larger audience with tips on saving, investing and credit, and protecting consumers from fraud, abuse, scams and identity theft. With social media, visitors can discover resources in an informal and interactive environment. This also provides the opportunity for consumers to connect directly with representatives of regulatory agencies and consumer protection organizations.

About Department of Financial Institutions – The DFI oversees the secure operation of California’s state-chartered financial institutions, including banks, credit unions and money transmitters. California’s financial institutions are symbols of safety and soundness. Protecting and serving California’s citizens through effective regulation and supervision remains the primary mission of the DFI. DFI ensures public confidence in financial institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of state laws. Website: www.dfi.ca.gov, Twitter: @CaliforniaDFI.

About Department of Corporations – The DOC is California’s investment and financing authority and is responsible for the regulation, enforcement, and licensing of securities, franchises, off-exchange commodities, investment and financial services, independent escrows, consumer and commercial finance lending, residential mortgage lending, and payday lenders. Contact our toll-free consumer resource center at 1-866-ASK-CORP (275-2677) for information or to obtain a consumer complaint form. Website: www.corp.ca.gov, Twitter: @DOC_Outreach.

About Department of Real Estate – The DRE is a consumer protection agency that licenses and regulates real estate agents and brokers, investigate real estate fraud and facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law. DRE’s mission is to safeguard and promote the public’s interests in real estate matters. Website: www.dre.ca.gov Twitter: @DRE_RealEstate.

Contacts Alana Golden, Department of Financial Institutions, (916) 323-7012
Mark Leyes, Department of Corporations, (916) 322-7180
Tom Pool, Department of Real Estate, (916) 227-0772

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