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Committee Detail

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.


TRES - 2472 - President's Advisory Council on Financial Capability for Young Americans - Presidential
Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NamePresident's Advisory Council on Financial Capability for Young AmericansAgency NameDepartment of the Treasury
Fiscal Year2015Committee Number2472
Original Establishment Date Committee StatusTerminated
Actual Termination Date6/25/2015Committee URLhttp://www.treasury.gov/resource-center/financi...
New Committee This FYNoPresidential Appointments*Yes
Terminated This FYYesMax Number of Members*22
Current Charter Date9/12/2013Designated Fed Officer Position Title*Director, Financial Education
Date Of Renewal Charter9/12/2015Designated Federal Officer PrefixMs.
Projected Termination Date7/12/2015Designated Federal Officer First Name*Louisa
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthorityDesignated Federal Officer Last Name*Quittman
Establishment Authority*PresidentialDesignated Federal Officer Suffix
Specific Establishment Authority*Executive Order 13646Designated Federal Officer Phone*202-622-5770
Effective Date Of Authority*6/25/2013Designated Federal Officer Fax*202-622-6234
Exempt From EO 13875 Discretionary Cmte Designated Federal Officer Email*pacfcya@treasury.gov
Committee Type*Continuing
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 for Young Americans 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 promote financial capability among young Americans and encourage building the financial capability of young people at an early stage.
How is membership balanced?*The Council is comprised of the Secretary of the Treasury, the Secretary of Education, the Director of the Consumer Financial Protection Bureau and 22 non-governmental members. 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 - 2 Estimated Total Meetings -5
Why advice can't be obtained elsewhere?*To contribute to the Nation's future financial stability and increase upward economic mobility, it is the policy of the Federal Government to promote financial capability among young Americans and encourage building the financial capability of young people at an early stage in schools, families, communities, and the workplace. By starting early, young people can begin to learn the difference between wants and needs, the importance and power of saving, and the positive and productive role money can play in their lives. Having a basic understanding of money management from an early age will make our young people better equipped to tackle more complex financial decisions in their transition to adulthood, when critical decisions about financing higher education and saving for retirement can have lasting consequences for financial security. Strengthening the financial capability of our young people is an investment in our Nation's economic prosperity.
Why close or partially close meetings?Not Applicable
Recommendation RemarksNot Applicable
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentNoAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryNoAction OtherNo
Outcome Increased Customer SatisfactionNoAction CommentThese items are not applicable.
Outcome Implement Laws/Reg RequirementsNoGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentNot ApplicableNumber Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentNot ApplicableGrants Review CommentNot Applicable
Number Of Recommendations*12Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentThere are 12 recommendations summarized in the Council's final report (pp.16-17).Access Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentThe recommendations were not finalized until the release of the final report, therefore, no recommendations were implemented during the life of the Council. However, the Department of the Treasury, among other parts of the Administration, is considering whether and how to implement the recommendations identified in the final report.Access GSA FACA WebsiteNo
% of Recs Partially Implemented*0.00%Access PublicationsNo
% of Recs Partially Implemented CommentThe recommendations were not released until the final report. See comment above.Access OtherYes
Agency Feedback*Not ApplicableAccess Commentemail pacfcya@treasury.gov
Agency Feedback Comment*Not ApplicableNarrative Description*The purpose of the Council is to contribute to the nation’s future financial stability and increase upward economic mobility. The Council will provide advice to the President and the Secretary of the Treasury on how to promote the financial capability of young Americans and encourage building the financial capability at an early stage in schools, families, communities, and the workplace, and through use of technology. Strengthening the financial capability of young Americans is an investment in our nation’s economic prosperity.
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*$56,250.00Estimated 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*$5,303.00Est. 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$2,701.00Est. Other Costs Next FY*$0.00
Total Costs$64,254.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)*0.50Est. Fed Staff Support Next FY*0.00
Cost RemarksEst Cost Remarks
Hide Section - Interest Areas

Interest Areas

No interest areas selected for this committee.
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

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-004295President's Advisory Council on Financial Capability for Young Americans2014
 COM-006307President''s Advisory Council on Financial Capability for Young Americans2013