Treasury Department Announces Office of Financial Education

May 7, 2002

The Treasury Department today announced the establishment of the Office of Financial Education (OFE) as part of its ongoing effort to improve financial education for all Americans. The OFE will develop and implement financial education policy initiatives, and will oversee and coordinate Treasury’s outreach efforts.

Secretary Paul O’Neill has made financial education a focus at Treasury. Assistant Secretary for Financial Institutions Sheila Bair and U.S. Treasurer Rosario Marin are leading the Treasury effort to spread financial knowledge to Americans of all ages. Judy Chapa, Treasury’s new Deputy Assistant Secretary for Financial Education, is heading up the OFE, effective May 6.

“The Office of Financial Education will play a key role in coordinating Treasury’s efforts to improve the financial skills of all Americans,” said Secretary O’Neill. “The Office will develop a long-term, multi-faceted approach to expanding our nation’s money management skills. This is an area of great importance to me personally, to the Treasury Department, and to President Bush.”

“The creation of this office is a tremendous step forward for the cause of financial literacy,” said U.S. Treasurer Rosario Marin, who has been one of the Administration’s leading advocates of financial education.

Ms. Chapa, who has more than 15 years of experience in marketing, public and government relations and community affairs, previously was Manager of External Affairs for Miller Brewing Co., Milwaukee, WI. In 1999, she served as the Executive Director of the New Majority Council for the Republican National Committee, where she developed and executed strategic plans aimed at increasing voter participation.

Ms. Chapa also worked as marketing director at The Laredo National Bank, Houston, TX, during 1997-98 and as director for Hispanic marketing at Banc One Corp., Columbus, OH, during 1994-97. Prior to 1994, Ms. Chapa was a corporate affairs regional manager at RJR Tobacco Co., Houston, TX. She earned a Bachelor of Science degree in broadcast journalism from the University of Texas in 1981.