The project specifically targets underserved communities and youth across the United States
The American Bar Association Tort Trial and Insurance Practice Section (TIPS) and the National Urban League, in collaboration with Thomson Reuters, have launched a new initiative to promote financial literacy.
The Financial Literacy Project seeks to empower individuals by equipping them with the necessary knowledge and tools to take control of their financial futures. It specifically targets underserved communities and youth across the United States.
Currently, 78 percent of Americans live paycheck to paycheck, with many lacking essential financial knowledge. A significant portion of adults, 25 percent, have no access to trusted financial advice. This initiative addresses these issues through a series of educational videos covering various financial topics, including budgeting, banking, tax preparation, buying a car, home ownership, saving for postsecondary education, debt management, and financial planning.
The educational content will be accessible through the websites of ABA TIPS, the National Urban League, FindLaw.com, and Abogado.com, ensuring broad reach and accessibility.
“The Financial Literacy Project can make a tremendous difference in people’s lives, empowering them with the skills and knowledge they need to build a brighter financial future,” said TIPS chair Loren D. Podwill. “We are thrilled to partner with the National Urban League and Thomson Reuters on this important project.”
Marc H. Morial, president and CEO of the National Urban League, emphasized the fundamental role of financial literacy in economic empowerment and community stability. “Financial literacy is the foundation of economic empowerment and stable communities,” Morial said. “It is the cornerstone for educational and employment opportunity, homeownership, and wealth building. We’re proud to partner with TIPS and Thomson Reuters to help break the cycle of poverty and open the doors of opportunity.”
Mark Haddad, president of FindLaw for Thomson Reuters, echoed these sentiments, highlighting the project's potential impact. “We are proud to expand upon our long-term relationship with the American Bar Association Tort Trial and Insurance Practice Section to provide this opportunity for individuals to gain a deeper understanding of personal finances and to equip them to navigate their financial future through The Financial Literacy Project,” Haddad stated.
The ABA Tort Trial and Insurance Practice Section unites plaintiff, defence, insurance, and corporate counsel to advance the civil justice system. With over 10,000 members and more than 30 general committees, TIPS serves as a national source of expertise in tort, trial, and insurance practice, fostering collaboration and information sharing among lawyers.
