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Financial Literacy and Education Commission (FLEC) Public Meeting

MINUTES

July 20, 2023, 9:00 AM – 10:30 AM (Eastern Time)

FLEC Members Meeting In-Person at Department of the Treasury 

Treasury Webcast: https://treas.yorkcast.com/webcast/Play/7570278421a749858834531c1729dcff1d 

ATTENDING MEMBERS

1. Department of the Treasury (Treasury) (Chair) 

• Nellie Liang, Under Secretary for Domestic Finance, Designee for Secretary 

of the Treasury Janet Yellen

2. Consumer Financial Protection Bureau (CFPB) (Vice Chair) 

• Rohit Chopra, Director 

3. Board of Governors of the Federal Reserve System (FRB) 

• Angelyque Campbell, Associate Director and Community Affairs Officer 

4. Commodity Futures Trading Commission (CFTC) 

• Dan Rutherford, Associate Director, Customer Outreach, Customer Education 

and Outreach

5. Department of Defense (DOD)

• Andrew Cohen, Director, Financial Readiness in the Office of the Deputy 

Assistant Secretary of Defense for Military Personnel Policy.

6. Department of Education (ED) 

• Richard Cordray, Chief Operating Officer, Federal Student Aid, Department 

of Education 

7. Department of Health and Human Services (HHS)

• Patrice Kunesh, Commissioner, Administration for Native Americans (ANA) 

8. Department of Housing and Urban Development (HUD)

• David Berenbam, Deputy Assistant Secretary, Housing Counseling 

9. Department of Interior (DOI)

• Onna LeBeau, Director, Office of Indian Economic Development, Department 

of the Interior 

10. Department of Labor (DOL) 

• John Warner, Special Assistant

11. Department of Veterans Affairs (VA)

• Cheryl Rawls, Executive Director, Outreach, Transition, and Economic 

Development Veterans Benefits Administration

12. Federal Deposit Insurance Corporation (FDIC) 

• Jonathan Miller, Deputy Director for Policy and Research in the Division of 

Depositor and Consumer Protection 

13. Federal Emergency Management Agency (FEMA)
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• Aaron Levy, Director-Individual and Community Preparedness Division

14. Federal Housing Finance Agency (FHFA)

• Sandra L. Thompson, Director 

15. Federal Trade Commission (FTC)

• Rosario Mendez, Attorney, Consumer & Business Education 

16. National Credit Union Administration (NCUA)

• Ernestine Ward, Consumer Compliance Policy and Outreach Officer

17. Office of the Comptroller of the Currency (OCC)

• Michael Hsu, Acting Comptroller of the Currency

18. Office of Personnel Management (OPM) 

• Patricia Sapol, Senior HR Specialist, Benefits Officers Development and 

Outreach, Retirement Services 

19. Securities and Exchange Commission (SEC)

• Lori Schock, Director, Office of Investor Education and Advocacy 

20. Small Business Administration (SBA) 

• John “Jack” Bienko, Senior Innovation Advisor 

21. Social Security Administration (SSA) 

• Jeffrey Buckner, Acting Assistant Deputy Commissioner for Communications 

22. White House Domestic Policy Council (WHDPC)

• Sarah Brundage, Senior Advisor for Racial and Economic Justice 

SPECIAL REMARKS 

• Richard Cordray, Chief Operating Officer of Federal Student Aid, Department of 

Education 

• Chief Lynn Malerba, Treasurer of the United States 

PRESENTERS 

Panel Discussion with Native Leaders on the Financial Literacy and Educational Needs of 

Tribal and Native Communities 

• Chief Lynn Malerba, Treasurer of the United States 

• Susan Masten, Interim Executive Director, Native American Finance Officers 

Association (NAFOA)

• Delphina Thomas, Program Officer, American Indian College Fund 

• Kitcki Carroll, Executive Director, United South and Eastern Tribes (USET SPF) 

Federal Agencies and White House Representatives on Federal Financial Literacy and 

Education Resources Available to Tribal and Native Communities 

• Fatima Abbas, Director, Office of Tribal and Native Affairs, (Treasury) 

• Patrice Kunesh, Commissioner, Administration for Native Americans (ANA), HHS 

• Onna LeBeau, Director, Office of Indian Economic Development, DOI 

• Naomi Miguel, Executive Director, White House Initiative on Advancing Educational 

Equity, Excellence, and Economic Opportunity for Native Americans 
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GENERAL SESSION

Welcome and Overview by the Moderator and Remarks by FLEC Chair and Vice Chair 

Suzanna Fritzberg, Deputy Assistant Secretary for Capital Access and Moderator, opened the 

meeting at 9:00 A.M. and delivered opening remarks. 

Nellie Liang, Under Secretary for Domestic Finance, Department of the Treasury,

Designee of Secretary of the Treasury Janet Yellen, Chair 

Under Secretary Liang welcomed the attendees to the second public FLEC meeting of 2023. 

Under Secretary Liang expressed gratitude for the FLEC’s continued efforts in promoting 

financial literacy and education and extended a warm welcome to the Native leaders present at 

the meeting. The Under Secretary acknowledged Chief Lynn Malerba, U.S. Treasurer, for her 

historic appointment and her role in overseeing Treasury’s Office of Tribal and Native Affairs, 

which fosters economic security and interagency collaboration for Tribal nations. 

The Under Secretary highlighted Treasury’s commitment to supporting Tribal economies while 

respecting nation-to-nation diplomacy, trust, treaty responsibilities, Tribal sovereignty, and selfdetermination. 

Rohit Chopra, Director, Consumer Financial Protection Bureau, Vice Chair 

Director Chopra emphasized the need to delve deeper into the impact of financial services, 

regulation, and housing policies on Tribal lands. Director Chopra emphasized the significance of 

homeownership, highlighting unique challenges faced by lenders on Tribal lands, such as 

extended loan processing times, additional administrative requirements, and other issues related 

to mortgages issued on trust land. 

Special Message on Public Service Loan Forgiveness (PSLF), Richard Cordray, Chief 

Operating Officer, Federal Student Aid, Department of Education 

Richard Cordray delivered special remarks regarding the PSLF program and student loan relief. 

Mr. Cordray highlighted that student loan payments are set to resume for 45 million borrowers 

after a pause of three years. Mr. Cordray highlighted the SAVE Plan, which is an income-driven 

repayment plan that will cut borrowers’ monthly payments in half, waiving the monthly 

payments of lower-income borrowers and cutting most other borrowers’ payment by at least 

$1,000. Mr. Cordray noted the SAVE Plan is available for individuals working in Tribal

governments, non-profits, military service, and public service for a decade. Mr. Cordray urged 

FLEC members and constituents to take advantage of this opportunity. 

Special Message on Eligibility for Medicaid and Children’s Health Insurance Program

Ms. Fritzberg noted that eligibility reviews have restarted for Medicaid and Children’s Health 

Insurance Programs through the Department of Health and Human Services. Ms. Fritzberg 

invited participating members to use FLEC as a resource for broadcasting urgent messages 

related to health and financial capability. 

Chief Lynn Malerba, Treasurer of the United States

Treasurer Malerba acknowledged her appointment as the first Native American to serve as the 

Treasurer of the United States, a promise kept by the Biden-Harris administration to ensure 

indigenous representation in policymaking. Treasurer Malerba highlighted the importance of 

financial literacy among Tribal communities and the bespoke challenges they face, particularly 

in Tribal communities. Treasurer Malerba emphasized that financial literacy is needed to help 
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Tribal communities achieve long-term financial stability, access reliable banking institutions, 

build credit, secure stable housing, and pursue education. 

Treasurer Malerba pointed out the disparities in access to capital and credit markets, with some 

banks hesitant to lend in Tribal communities. Treasurer Malerba underscored the vital role of 

Tribal communities in contributing to the nation’s growth and emphasized the need for strong 

partnerships between Tribes and other stakeholders. 

First Panel Discussion with Native Leaders on the Financial Literacy and Educational 

Needs of Tribal and Native Communities 

Moderator, Chief Lynn Malerba, Treasurer of the United States

Treasurer Malerba introduced the panelists, highlighting their experiences and focus areas. 

Treasurer Malerba posed the following questions for each panelist to address: 

1. How do we educate Tribal leaders in financial education?

2. Why does financial literacy matter in Tribal communities and what does that look like for 

Tribal youth and Native citizens?

3. As leaders of your organizations, what needs are expressed by your community? 

4. How does history impede the overall financial literacy for Tribal communities? 

• Susan Masten, Interim Executive Director, Native American Finance Officers 

Association (NAFOA)

Ms. Masten emphasized her organization’s collaborative efforts with Oklahoma State 

University’s Spears School of Business to offer a certificate program in Financial Leadership for 

Tribal finance and accounting professionals. Ms. Masten stressed the importance of developing 

culturally relevant programs, focusing on housing, homeownership, and budgeting for youth’s 

financial preparedness. Ms. Masten also noted that language immersion was needed to close 

achievement gaps within Native American communities and foster cultural values that promote 

financial success.

• Kitcki Carroll, Executive Director, United South and Eastern Tribes (USET SPF) 

Mr. Carroll emphasized that financial literacy is not only vital for Native and Tribal communities 

but also for refugees and asylees, impacting many people across different backgrounds. Mr.

Carroll stressed the significance of understanding the historical context and present-day 

challenges faced by Native communities, particularly concerning issues like home ownership, 

generational wealth, and cycles of poverty. He also discussed that many of the issues facing 

Tribal communities, whether healthcare, poverty, education, food security, social justice, – all 

have one element in common, economic opportunity. Mr. Carrol also discussed that a lack of 

access and banking opportunities on Tribal lands is challenging for Native entrepreneurs. Few 

opportunities for financing are also a serious barrier to building affordable homes.

• Delphina Thomas, Program Officer, American Indian College Fund 

Ms. Thomas highlighted that the disparities faced in Tribal communities hinder financial security 

among Native Americans, leading to over-drafted bank accounts and adverse credit effects. Ms. 

Thomas emphasized the need for affordable college education and initiatives the College Fund 

have to support Native students seeking higher education. 
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Panel Discussion with Federal Agencies and White House Representatives on Federal 

Financial Literacy and Education Resources Available to Tribal and Native Communities. 

Moderator, Fatima Abbas, Director, Office of Tribal and Native Affairs, Department of the 

Treasury

Ms. Abbas noted that the federal government has a responsibility to support Tribal citizens in 

their economic advancement and introduced the panelists active in that work. Ms. Abbas 

reflected on how Native Community Development Financial Institutions (CDFIs) are often the 

only lenders available in certain regions. 

Ms. Abbas posed the question, “What training programs, publications or other financial 

education efforts is your agency implementing to support Tribal nations?” 

• Patrice Kunesh, Commissioner, Administration for Native Americans (ANA), 

Department of Health and Human Services 

Commissioner Kunesh highlighted grant funding programs that provide substantial support to 

Native American communities through Temporary Assistance for Needy Families (TANF). The 

Commissioner emphasized the significance of Native CDFIs, which serve to address barriers 

such as lack of access to financial services and banking to the communities’ needs. The 

Commissioner highlighted substantial resources at the Administration for Children and Families

(an office of HHS), dedicated to promoting financial literacy in Native communities, along with 

self-governance, culturally relevant programming and community-driven solutions. 

• Onna LeBeau, Director, Office of Indian Economic Development, Department of the 

Interior 

Director LeBeau reflected on her agency’s efforts in financial education, empowering individuals 

with future planning and budgeting skills through the Building Native Communities Curriculum. 

Director LeBeau emphasized the vital role of Native CDFIs in the Indian Loan Guarantee and 

Insurance Program, fostering financial initiatives within Native communities. Recognizing the 

impact of historical trauma on financial decisions, Ms. LeBeau stressed the importance of 

understanding and recognizing that physical, psychological, and emotional trauma can influence 

financial decision making and encouraged positive changes through personalized interactions. 

• Naomi Miguel, Executive Director, White House Initiative on Advancing Educational 

Equity, Excellence, and Economic Opportunity for Native Americans 

Executive Director Miguel highlighted how the Department of Education provides support 

through grants to expand the capabilities of Tribal colleges and universities. Ms. Miguel stressed 

the significance of one-to-one financial education partnerships with local banks, and 

governments to seek to address the unique ways in which the diverse 574 tribes work, providing 

financial literacy education from kindergarten to post-secondary education. 
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FLEC Member Discussion

Michael Hsu, Acting Comptroller of the Currency, Office of the Comptroller of the Currency, 

expressed gratitude to all the panelists and emphasized the significance of listening to their 

insights. The Acting Comptroller stressed the importance of empowering sovereignty and 

highlighted that financial literacy serves to facilitate that empowerment. The Acting Comptroller 

acknowledged the need for better understanding the unique circumstances faced by Native

communities, suggesting, for example, that banks may require translators to bridge the gap and 

effectively engage with these communities.

Closing Remarks

Director Chopra highlighted key themes from the discussions. The Director acknowledged the 

challenge of making financial education relevant for individuals facing financial difficulties, 

urging a change in mindset. The Director called for improvements in cultural competence in 

serving communities and addressing historical injustices. He recommended leveraging legal 

authorities and resources to advance these goals. 

Treasurer Malerba emphasized the shared experiences of panelists as indigenous Americans. 

Treasurer Malerba announced the creation of a permanent “Tribal and Native Communities” 

resource page on MyMoney.gov to promote financial literacy and educational resources created 

by the FLEC members and designed to assist Tribal and Native communities.

Conclusion

Ms. Fritzberg, adjourned the meeting at approximately 10:35 A.M.
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OTHER MEETING ATTENDEES/PARTICIPANTS

Dubis Correal, CFPB 

Matt Pippin, CFPB 

Debra Golding, DOL

Elizabeth Coogan, ED

BonnieLatreille, ED

Tariq Habash, ED

Emma Hartley, ED

Marisa Joseph, ED

Kenneth Worthey, FDIC

Karen Chang, FHFA

Candace Herring, FRB

Tenisha Noel, FRB

Jennifer Leach, FTC 

Cristina Miranda, FTC

Marietta Jelks, General Services Administration

Gretchen Lehman, H

Treci Johnson, HHS/AmeriCorps

Terry Carr, HUD

Barry Wides, OCC

Louisa Quittman, OCC 

Tameka Taylor, SSA 

Alan Sorcher, SEC

Chief Lynn Malerba, Treasury

Graham Steele, Treasury

Fatima Abbas, Treasury

Natalia Li, Treasury

Tanya McInnis, Treasury

Callie Furmaniuk, Treasury

Jonathan Kesten, Treasury

Nora Esposito, Treasury

Jennifer Parisien, Treasury

Chastity Murphy, Treasury

Randall Fasnacht, Treasury

Christopher Appel, Treasury

Jeffrey Rapp, Treasury

Anita Robertson, Treasury

Shawnta Sampson, VA

Naiya Marshall, VA 

Ashley Harrington, Center for Responsible Lending 

Brian Howard, United South and Eastern Tribes - Sovereignty Protection Fund