This measure codified the state's financial interest in reducing consumer debt and bolstering personal savings.  The bill created a financial literacy fund in the Office of the Treasurer to fund financial literacy efforts in the office of the Controller. It represented a much-needed commitment by the state to start addressing the root causes of personal financial struggles precipitated by a lack of consumer financial education.  

Our Increase Access to Banking Services & Financial Education policy page has more on this topic.

Status:
This bill was held on suspense in the Assembly Appropriations committee. To read the full text of the bill, see 'Related Files' at right. New America also supported the financial literacy bill AB 2123 in the previous session.