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Skelton promotes National Consumer Protection Week focus on financial literacy at ‘Every Stage of Life’
Skelton promotes National Consumer Protection Week focus on financial literacy at ‘Every Stage of Life’

Congressman Ike Skelton
WASHINGTON, D.C. (March 7, 2010) — The Federal Trade Commission has designated March 7 to 13 of this year as the 12th annual National Consumer Protection Week to highlight consumer protection and education efforts around the country. This year the theme of National Consumer Protection Week is “Dollars and Sense: Rated ‘A’ for All Ages.”

Americans make countless purchases and conduct millions of transactions each day, but sometimes even wise consumers can make misinformed financial decisions. Poor choices hurt our pocketbooks and make it more difficult for citizens to realize the American Dream, but consumers can protect themselves through financial education. Education is the first line of defense to making smarter monetary decisions.

In recent months, we have seen how misinformed financial decisions can hinder the American economy. Predatory loans and adjustable-rate mortgages have caused foreclosure rates to swell and are wreaking chaos on our entire financial system. Since so many Americans are currently facing difficulties with their mortgages, the U.S. Financial Literacy and Education Commission has compiled a resource package specifically focused on avoiding foreclosure. To learn more about this program or to receive the free mortgage toolkit, visit www.mymoney.gov or contact the mortgage hotline toll-free at 1-888-995-HOPE.

Consumers can protect our economy by educating themselves on how to make well-informed financial decisions. Education is vital for consumers who want to manage their money wisely and protect themselves against fraud. Financially savvy consumers are likely to make smarter money decisions, use credit more wisely, and build a solid financial foundation.

The National Consumer Protection Week has partnered with organizations to provide practical tips so consumers can learn how to make better fiscal decisions. I encourage all consumers to take advantage of the resources from the National Consumer Protection Week. For more information about National Consumer Protection Week and to learn more about credit and money management, retirement planning, or insurance visit http://consumer.gov/ncpw/blog/ .

Congressman Ike Skelton (D-Mo.) serves as chairman of the House Armed Services Committee. Congressman Skelton’s website is at www.house.gov/skelton.

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