OCC backs updated U.S. financial literacy strategy

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OCC backs financial literacy strategy

Highlights

The 2026 U.S. National Strategy for Financial Literacy sets four priorities: youth financial capability, saving and investing, digital literacy, and scams and fraud education.
The updated framework prioritizes coordinated federal efforts, evaluation of program effectiveness, and greater access to high-quality practical financial education across agencies.
OCC continues providing financial education resources, such as Safe Money materials, with an emphasis on consumer awareness of scams and improving financial decision-making.

Federal strategy sets education priorities

As reported by the Office of the Comptroller of the Currency, the 2026 update to the U.S. National Strategy for Financial Literacy outlines goals and actions to help Americans make informed financial decisions, improve financial well-being, and strengthen financial security.

The strategy is developed through consultation with agencies represented on the Financial Literacy and Education Commission, public input, and independent research on financial literacy and education. It sets four priority areas: youth financial capability, saving and investing, digital financial literacy, and scams and fraud education.

OCC Comptroller Jonathan V. Gould says Americans who understand the financial system are better positioned to save for the future, protect themselves from fraud, and participate more fully in the economy. The strategy also points to best practices for delivering financial education, including timely guidance at key decision points, tailoring lessons to life stages, reinforcing concepts over time, and using hands-on learning.

Implications for consumers and financial education efforts

The updated framework is intended to guide coordination across federal entities and support broader access to practical financial education. It also emphasizes evaluating program effectiveness and supporting high-quality instruction as agencies expand outreach efforts.

The OCC says it continues to provide consumer education resources aimed at helping people make informed financial choices and recognize scams and fraud, including through its Safe Money materials. FLEC, created under the Fair and Accurate Credit Transactions Act of 2003, serves as a federal forum for collaboration on financial literacy and access to financial services.

In our earlier article on the Education Freedom Tax Credit, we covered how proposed Treasury Department and IRS rules would let taxpayers claim up to a $1,700 dollar-for-dollar credit for donations to K-12 scholarship organizations. We also noted key guardrails in the draft framework, including limits on state restrictions over eligible schools and expenses, plus added anti-fraud protections such as unique donor ID numbers.

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