News Column

Hispanic Legislators Lend Support to Financial Literacy Tools

Oct. 15, 2012

Staff --

Rep. Juan Candelaria. Photo courtesy of Juan Candelaria.

The National Hispanic Caucus of State Legislators (NHCSL) has lent its weight to a resolution by Juan Candelaria, who represents Connecticut's 95th Assembly District, that is designed to expand financial literacy among young adults and Hispanic households.

"Financial stability is not only extremely important for the success of our nation's economy, but it also allows individuals to take control of their circumstances, make smarter financial decisions, plan for their financial future, and improve their quality of life," said Candelaria, a Democrat. "As civil servants, I believe it is our duty to provide the necessary resources that can help improve the livelihood of all members in the community."

The NHCSL promotes financial literacy; supports activities related to Financial Literacy Month, which comes in April; and urges policymakers to steer people who need financial help in the right direction.

The NHCSL also seeks to improve on the Credit Repair Organization Act to prevent deception and fraud.

The NHCSL points out that the U.S. Hispanic population's financial contribution to the country comes to some trillion dollars a year, and that most businesses now actively market goods and services to Hispanic households.

Although most Hispanic households with incomes of at least $45,000 believe they are financially successful, according to the NHCSL, one-third of them say they still need help making financial decisions.

"The NHCSL and its legislators strongly believe that improved financial literacy will empower young adults and members of the Hispanic community to become successful consumers and business leaders," said Rep. Minnie Gonzalez, president of NHCSL, who is majority whip at large and represents Connecticut's 3rd Assembly District.

The NHCSL is a nonpartisan, 501(C)(3) organization founded in 1989 by Larry Trujillo, a Colorado state senator at the time.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: (c) 2012. All rights reserved.

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