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2011 Financial Literacy Roundtable Report

October 18, 2011



Download the full 2011 Financial Literacy Roundtable Report here.

On April 6, 2011, Governor Mark Dayton issued a proclamation declaring the month of April to be Youth Financial Literacy Month in Minnesota.

Commerce Commissioner Mike Rothman and Deputy Commissioner Murphy recognized that the Governor’s proclamation offered a unique opportunity for the Minnesota Department of Commerce to strengthen existing partnerships with financial literacy stakeholders, establish new relationships, and identify strategies to help all Minnesotans – from Kindergarten to retirement – learn more about financial products, improve their financial fitness, and achieve financial security.

For that reason, on April 13, 2011 Commissioner Rothman and Deputy Commissioner Murphy convened a roundtable focused on financial literacy. More than 60 stakeholders from state and local governments, financial institutions, and nonprofit organizations participated in the conversation. Participants described their respective roles in the cause of financial literacy and offered suggestions for how the Department of Commerce can improve its involvement in financial literacy efforts.

The goals of this conversation were threefold: 

            1. Identify what is being done already to improve financial literacy in Minnesota

            2. Pinpoint what stakeholders in the government, nonprofit, and private sectors can do
                together to achieve tangible progress in the months and years ahead

            3. Gather suggestions for how the Minnesota Department of Commerce can contribute
                to the cause of financial literacy (as the agency responsible for consumer protection 
                and regulation of Minnesota’s financial institutions)

The 2011 Financial Literacy Roundtable Report is a summary of that discussion, including: 

           1. A proclamation issued by Governor Mark Dayton declaring the month of April 2011 to
               be Financial Literacy Month in Minnesota 

           2. A list of stakeholders who participated in the April 13 discussion

           3. A summary of key recommendations offered by roundtable participants

           4. Proposed action steps for expanding the Minnesota Department of Commerce’s role
               in the cause of financial literacy