The Obama administration announced last week the appointment of Visa CEO Charles Scharf as a member of the President’s Advisory Council on Financial Capability for Young Americans.
The council, which was established last June by executive order, seeks to counsel the president on ways to improve financial literacy among American youths and to improve their financial capabilities.
“Building the financial capability of young Americans is critically important to ensuring a vibrant, expanding economy and a financially secure nation,” Scharf said. “Fueling economic growth is at the core of what Visa does every day and it’s why championing greater financial literacy is our DNA. Our deep commitment to financial capability is rooted in this belief. For more than 15 years we’ve been helping parents and teachers bring personal finance education to millions of American students.”
Other planned appointments to the council include Ariel Investments CIO, CEO and Chairman John W. Rogers as the council chairman and Jose Cisneros, the treasurer of San Francisco, as vice chairman.
Theodore J. Beck, the president and CEO of the National Endowment for Financial Education; Sherry Salway Black, the director of the Partnership for Tribal Governance at the National Congress of American Indians; Operation HOPE Chairman and CEO John Hope Bryant; Anna Maria Chavez, the CEO of the Girl Scouts of Southwest Texas; and Kerry N. Doi, the president and CEO of the Pacific Asian Consortium in Employment, will also join the committee as members.