For the purposes of this subchapter, the term:
(1) “Financial literacy” means the ability to make informed decisions about one's personal finances, based on an understanding of the principles of credit, debt, savings and investments, depository institutions, interest, and budgeting.
(2) “Financial Literacy Council” means the District of Columbia Financial Literacy Council.
CREDIT(S)
(Aug. 15, 2008, D.C. Law 17-209, § 2, 55 DCR 6979.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
Law 17-209, the “Financial Literacy Council Establishment Act of 2008”, was introduced in Council and assigned Bill No.17-434 which was referred to Public Services and Consumer Affairs. The Bill was adopted on first and second readings on May 6, 2008, and June 3, 2008, respectively. Signed by the Mayor on June 18, 2008, it was assigned Act No. 17-405 and transmitted to both Houses of Congress for its review. D.C. Law 17-209 became effective on August 15, 2008.
