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FS Investments Sponsors Congressional Briefing to Address Financial Literacy Crisis in the U.S.

November 11, 2019

WASHINGTON, D.C. – November 11, 2019 – On October 23, FS Investments, in collaboration with the House Financial and Economic Literacy Caucus, sponsored a congressional briefing on Capitol Hill to address the need for greater access to financial literacy education in the United States.

U.S. Representatives Steve Stivers (R-OH), Brian Fitzpatrick (R-PA), David Scott (D-GA) and Madeleine Dean (D-PA) supported the event, where both Reps. Scott and Dean offered remarks and discussed potential legislative solutions to the financial literacy crisis.

The briefing also featured two panel discussions, the first of which focused on defining the financial literacy issue in the U.S. while the second shared creative solutions currently in practice.

The first panel featured leading scholars in the field of financial literacy. The panel was moderated by Katherine M. Sauer, Ph.D., Vice President of Research and Programs at the National Endowment for Financial Education. Panel participants included J. Michael Collins, Ph.D., Fetzer Family Chair in Consumer and Personal Finance at the University of Wisconsin-Madison; Melody Harvey, Ph.D., National Poverty Fellow, Institute for Research on Poverty at the University of Wisconsin-Madison; and Gary Mottola, Ph.D., Research Director, Investor Education at FINRA Foundation.

The second panel was moderated by John Pelletier, Director of Champlain College’s Center for Financial Literacy, and featured financial literacy program leaders including Jill Bazelon, Ph.D., of the University of Pennsylvania’s Netter Center for Community Partnerships; Blake Marble, Director, Student Life Student Wellness at The Ohio State University; and Travis Holoway, CEO and Co-Founder of SoLo Funds.

The event was attended by other members of Congress, congressional staff, industry group representatives and staff from the Department of Education and the Consumer Financial Protection Bureau.

“FS Investments is deeply engaged in addressing the financial literacy crisis through our marquee philanthropic program, FS Financial Scholars, which we run in partnership with the University of Pennsylvania,” said Mike Gerber, Senior Managing Director at FS Investments, President of the FS Foundation and Trustee of the University of Pennsylvania. “In addition to our work in fifteen high schools in Philadelphia, we advocate at the local, state and federal level for public policy that would lead to greater access to and higher standards for financial literacy education. We hope this event and our continued efforts will help drive meaningful public policy.”

About FS Investments:
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth, and focuses on setting industry standards for investor protection, education and transparency. FS Investments is headquartered in Philadelphia, PA with offices in New York, NY, Orlando, FL and Washington, DC. Visit www.fsinvestments.com to learn more.

About The FS Foundation:
The FS Foundation is the philanthropic arm of FS Investments. It aims to positively impact communities through championing civic leadership, volunteerism and philanthropy at all levels of the firm. Visit www.fsinvestments.com/about/fs-foundation to learn more.

About FS Financial Scholars:
FS Financial Scholars is a collaboration between FS Investments and the University of Pennsylvania. The program aims to provide high school students and their families with the tools needed to generate greater wealth and achieve financial empowerment. FS employees and volunteers from the University of Pennsylvania’s Wharton School of Business provide in-class financial literacy curriculum, an after-school club focused on entrepreneurship, and evening and weekend financial literacy programming for adults. Student participants also have the opportunity to enroll in a paid entrepreneurship incubator program at the University of Pennsylvania.

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