Submitted by Senator Barry Finegold's office.
Senate President Therese Murray appointed Senator Barry Finegold to the board of the newly formed Financial Literacy Trust Fund. The Trust Fund will encourage financial literacy and education for residents, institutions, community organizations and other entities that promote financial literacy throughout the commonwealth.
“I am honored to be appointed to this board and I thank the Senate President for instilling her trust in me to develop regulations for the implementation of the trust,” Finegold said. “By teaching financial education basics in school, as well as in community-based programs, we will be giving the people of Massachusetts the tools for future financial success, as well as prevent future bankruptcies, foreclosures, and unmanageable debt."
Board members will work to maximize the balance in the trust by soliciting private donations, gifts and grants that will be used in financial literacy education efforts. The board of trustees will decide how to use the trust fund and will steer the direction and purpose of the fund.
The fund will be administered by State Treasurer Steve Grossman, in consultation with the board of trustees, which is made up of 19 other board members from the Senate, House of Representatives, the Attorney General, other members of government and appointees.