Columbus libraries and others “astonish” Cordray with success of test financial-education program

Columbus Metropolitan Library is seeing “better-than-expected results” in a test program launched 18 months ago by the Consumer Financial Protection Bureau (CFPB) in an effort to improve Americans’ financial literacy, Columbus Business First reports. The project aims to turn “public libraries into centers for financial education.” CFPB Bureau Director Richard Cordray said the program “has expanded across the country and dramatically exceeded my expectations . . . [w]e thought that we might, within two years, expand to 50 library systems,” but the program “now counts 370 systems in 48 states.” Cordray’s vision is to have librarians helping consumers find “unbiased information on mortgages, managing credit card debt and saving money during tax season.” He said that Columbus’ library program success stands as a “splendid example” of the hopes for the program nationwide. For more, read the full article.



Consumer Financial Protection Bureau, Federal Regulatory, State Regulatory