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Minnesotans urged to become financially capable

Annual event showcased organizations that help Minnesotans take charge of their money and protect their finances

5/7/2015 10:14:43 AM


For Immediate Release:

St. Paul – Minnesotans are urged to become “financially capable” by learning how to focus on their financial goals, manage their money responsibly and protect themselves against fraud and scams.

That was the overriding message at the 5th annual Minnesota Financial Capability Roundtable on April 28 at the Minnesota History Center, culminating a wide range of financial education activities and outreach events throughout the state in April as part of Financial Capability Month.

“Financial capability is about educating and empowering Minnesotans to take charge of their financial futures,” said Commissioner Mike Rothman of the Minnesota Department of Commerce, which hosted the Roundtable that drew an audience of more than 200 people. “Financial capability not only helps people make responsible financial decisions and build wealth. It also helps people protect themselves against predatory financial tricks and traps.”

The keynote speaker at this year’s Roundtable was Richard Cordray, Director of the U.S. Consumer Financial Protection Bureau. With the mission of protecting consumers in the financial marketplace, the agency was established by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The Roundtable focused on “financial capability” – the lifetime skills and attitudes that people need to make sound decisions about their money and achieve their financial goals, from kindergarten to retirement. 

This year’s event showcased 10 organizations that are working with Minnesotans to build wealth and avoid falling victim to fraud and scams:

  • AARP Minnesota
  • Adler Consulting LLC
  • Junior Achievement of the Upper Midwest
  • Minnesota Asset Building Coalition
  • Minnesota Home Ownership Center
  • Prepare + Prosper
  • Sand Creek Elementary School (Coon Rapids) and United Educators Credit Union
  • Share, Save, Spend
  • Tartan High School (Oakdale) and Ideal Credit Union
  • University of Minnesota Extension Center for Family Development

 “Minnesota is a national leader in financial education,” said Rothman. “Minnesotans benefit from innovative partnerships involving schools, nonprofits, financial institutions, faith communities, government and more. They’re making a positive difference for our state by helping Minnesotans secure better financial futures for themselves, one money choice at a time.”

 Financial Capability Month is a collaboration involving the Minnesota Financial Literacy Interagency Work Group, composed of 10 state agencies, as well as partners from the nonprofit and private sectors.

The Minnesota Department of Commerce is here to help. 

The Minnesota Department of Commerce is here to help if you have questions or believe you have been the victim of a scam or fraud. You can contact the Department’s Consumer Services Center at 651-539-1600 or (800) 657-3602. Consumers can also file a complaint on the Commerce Department website.

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