Palmetto State News

Yesterday, U.S. Senator Tim Scott hosted a virtual career development event for students from Historically Black Colleges and Universities (HBCUs) across the nation. The event aimed to provide insights into financial literacy and career opportunities within the financial services industry. Students had the chance to engage with federal regulators and leaders from various financial services firms.

Senator Scott addressed the participants, emphasizing the significance of financial literacy in achieving success. "Thank you to each HBCU for attending and the students that are with us today. Thank God you’re here – it’s really all about you anyway," he stated. He highlighted the need for increased participation from the African American community in the financial sector, sharing his personal experiences growing up in poverty. "One of the things that I’ve learned along the way is that financial literacy is such a critical component to the success that you will achieve later in life."

Senator Scott, who serves as the top Republican on the Senate Banking Committee and co-chairs both the Senate Financial Literacy Caucus and Congressional HBCU Caucus, has been an advocate for enhancing financial education across America. His legislative efforts include initiatives like the ROAD to Housing Act, which focuses on improving access to housing counseling and financial literacy programs, and the Empowering Main Street in America Act, designed to boost market understanding through enhanced education programs.

In April 2024, Senator Scott led a resolution declaring it Financial Literacy Month, underscoring his commitment to promoting awareness and access to essential financial tools.