Washington, DC– Janis Bowdler, Associate Director, Wealth-Building Policy Project of the National Council of La Raza (NCLR), the largest national Hispanic civil rights and advocacy organization in the U.S., will testify on the importance of funding financial literacy programs before the U.S. House of Representatives Committee on Financial Services on Tuesday, April 15, 2008. The hearing will be presided over by Subcommittee Chair José Serrano (D-NY) and will take place at 10:00 a.m. in Room 2128 of the Rayburn House Office Building.p>

NCLR has long advocated for the development and funding of a federal financial counseling program. Individualized financial counseling can help Hispanic families avoid common financial pitfalls and predatory lending. Latinos are less likely than others to own basic bank accounts and more likely to pay too much for home and auto loans. As a result, many Hispanic families are wasting hard-earned money on fees and lender profits, rather than building long-term wealth and financial security. NCLR will speak on the role of financial counseling in helping Latinos develop better financial habits. The hearing will look at financial education programs.

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