The commission shall have the following powers and duties:
(1) To develop, foster, and coordinate actions necessary to implement or improve financial literacy and education programs for basic personal income and household money management and planning skills in subject areas including but not limited to the following:
(a) Creating household budgets, initiating savings plans, and making strategic investment decisions for education, retirement, home ownership, wealth building or savings goals, and creating a personal insurance plan that will minimize personal and financial losses.
(b) Managing spending, credit, and debt, especially credit card debt effectively.
(c) Increasing awareness of the availability and significance of credit reports and credit scores in obtaining credit, the importance of accuracy in such reports, how to correct inaccuracies, the effect of credit scores on credit terms, and the effect of common financial decisions relative to credit scores.
(d) Obtaining fair and favorable credit terms.
(e) Avoiding abusive, predatory, or deceptive credit offers and financial products.
(f) Understanding, evaluating, and comparing financial products, services and opportunities.
(g) Understanding resources that inform and educate investors regarding their rights and available recourse when subjected to unprofessional conduct.
(h) Improving financial literacy through other related skills, such as personal finance and related economic education.
(2) To establish and maintain a website that shall serve as a clearinghouse concerning financial literacy and educational programs in order to access information about federal, state, nonprofit, and for-profit financial literacy and educational programs.
(3) To establish a toll-free telephone number to assist citizens seeking information relative to financial literacy and education.
(4) To coordinate and promote financial literacy and education efforts at the federal, state and local level, including partnerships and joint ventures with nonprofit and for-profit entities.
(5) To develop, implement and conduct a public service multimedia campaign to enhance the state of financial literacy and education in Louisiana.
(6) To prepare a report concerning the commission's efforts for submission to the House Committee on Commerce, the Senate Committee on Commerce, Consumer Protection, and International Affairs, and the David R. Poynter Legislative Research Library to be submitted no later than March 1, 2010, and every March first thereafter.
(7) To appoint, employ, or contract with such employees as the commission deems necessary to carry out the functions of the commission and to fix the compensation of such individuals.
The commission shall have the following powers and duties:
(1) To develop, foster, and coordinate actions necessary to implement or improve financial literacy and education programs for basic personal income and household money management and planning skills in subject areas including but not limited to the following:
(a) Creating household budgets, initiating savings plans, and making strategic investment decisions for education, retirement, home ownership, wealth building or savings goals, and creating a personal insurance plan that will minimize personal and financial losses.
(b) Managing spending, credit, and debt, especially credit card debt effectively.
(c) Increasing awareness of the availability and significance of credit reports and credit scores in obtaining credit, the importance of accuracy in such reports, how to correct inaccuracies, the effect of credit scores on credit terms, and the effect of common financial decisions relative to credit scores.
(d) Obtaining fair and favorable credit terms.
(e) Avoiding abusive, predatory, or deceptive credit offers and financial products.
(f) Understanding, evaluating, and comparing financial products, services and opportunities.
(g) Understanding resources that inform and educate investors regarding their rights and available recourse when subjected to unprofessional conduct.
(h) Improving financial literacy through other related skills, such as personal finance and related economic education.
(2) To establish and maintain a website that shall serve as a clearinghouse concerning financial literacy and educational programs in order to access information about federal, state, nonprofit, and for-profit financial literacy and educational programs.
(3) To establish a toll-free telephone number to assist citizens seeking information relative to financial literacy and education.
(4) To coordinate and promote financial literacy and education efforts at the federal, state and local level, including partnerships and joint ventures with nonprofit and for-profit entities.
(5) To develop, implement and conduct a public service multimedia campaign to enhance the state of financial literacy and education in Louisiana.
(6) To prepare a report concerning the commission's efforts for submission to the House Committee on Commerce, the Senate Committee on Commerce, Consumer Protection, and International Affairs, and the David R. Poynter Legislative Research Library to be submitted no later than March 1, 2010, and every March first thereafter.
(7) To appoint, employ, or contract with such employees as the commission deems necessary to carry out the functions of the commission and to fix the compensation of such individuals.
The commission shall have the following powers and duties:
(1) To develop, foster, and coordinate actions necessary to implement or improve financial literacy and education programs for basic personal income and household money management and planning skills in subject areas including but not limited to the following:
(a) Creating household budgets, initiating savings plans, and making strategic investment decisions for education, retirement, home ownership, wealth building or savings goals, and creating a personal insurance plan that will minimize personal and financial losses.
(b) Managing spending, credit, and debt, especially credit card debt effectively.
(c) Increasing awareness of the availability and significance of credit reports and credit scores in obtaining credit, the importance of accuracy in such reports, how to correct inaccuracies, the effect of credit scores on credit terms, and the effect of common financial decisions relative to credit scores.
(d) Obtaining fair and favorable credit terms.
(e) Avoiding abusive, predatory, or deceptive credit offers and financial products.
(f) Understanding, evaluating, and comparing financial products, services and opportunities.
(g) Understanding resources that inform and educate investors regarding their rights and available recourse when subjected to unprofessional conduct.
(h) Improving financial literacy through other related skills, such as personal finance and related economic education.
(2) To establish and maintain a website that shall serve as a clearinghouse concerning financial literacy and educational programs in order to access information about federal, state, nonprofit, and for-profit financial literacy and educational programs.
(3) To establish a toll-free telephone number to assist citizens seeking information relative to financial literacy and education.
(4) To coordinate and promote financial literacy and education efforts at the federal, state and local level, including partnerships and joint ventures with nonprofit and for-profit entities.
(5) To develop, implement and conduct a public service multimedia campaign to enhance the state of financial literacy and education in Louisiana.
(6) To prepare a report concerning the commission's efforts for submission to the House Committee on Commerce, the Senate Committee on Commerce, Consumer Protection, and International Affairs, and the David R. Poynter Legislative Research Library to be submitted no later than March 1, 2010, and every March first thereafter.
(7) To appoint, employ, or contract with such employees as the commission deems necessary to carry out the functions of the commission and to fix the compensation of such individuals.
