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Charles Schwab Foundation Supports Newly Formed AP Personal Finance Journalism Beat Team
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Rhea-AI Summary
Charles Schwab Foundation and the Associated Press have launched a two-year initiative aimed at enhancing financial literacy among underrepresented groups in the U.S. This project will establish a dedicated team of financial reporters to disseminate personal finance knowledge through various mediums and languages. The goal is to assist younger and lower-income individuals, particularly in racially and ethnically diverse communities. Supported by the foundation's grant, the initiative addresses the urgent need for financial education amid growing wealth inequality.
Positive
Establishment of a dedicated team of financial journalists to enhance financial literacy.
Focus on historically underrepresented audiences, promoting inclusion in financial education.
Multilingual journalism to reach a broader audience, including Spanish speakers.
Negative
None.
WESTLAKE, Texas--(BUSINESS WIRE)--
Charles Schwab Foundation and the Associated Press today announced a two-year project to advance explanatory journalism on financial literacy that will help spread personal finance knowledge to historically underrepresented audiences.
With support from Charles Schwab Foundation, AP will create a beat team of financial literacy journalists to help reach younger, less affluent, and racially and ethnically diverse people—including people of color, Spanish speakers, and middle- and lower-income households—with critical personal finance education.
The AP team will produce personal finance journalism in words, visuals and graphics, and in multiple languages, while leveraging the expertise of AP’s journalists across the globe to equip local news organizations with data and ideas on localizing personal finance stories for their readers and communities.
The project is supported by Charles Schwab Foundation, a private foundation that is separate from The Charles Schwab Corporation.
AP retains complete editorial control of all content.
“There is a crisis of financial illiteracy in the U.S. that is taking place against a backdrop of widening wealth inequality,” said Noreen Gillespie, AP global business editor. “As government programs that bolstered Americans’ finances during the pandemic begin to fade away, many vulnerable individuals are likely to experience fresh challenges. Now more than ever, it is paramount for AP to build a team dedicated to personal finance journalism that speaks to a truly diverse audience.”
“Financial literacy is a critical life skill that everyone needs, yet too many people in our country don’t have access to the tools and education they need to make smart money decisions,” said president of Charles Schwab Foundation Carrie Schwab-Pomerantz. “Together with the Associated Press, Charles Schwab Foundation is helping to level the economic playing field by supporting the creation of personal finance content that is responsive to the financial needs and wishes of underrepresented people and communities.”
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day. Online: www.ap.org
About Charles Schwab Foundation
Charles Schwab Foundation is an independent nonprofit public benefit corporation, funded by The Charles Schwab Corporation and classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at https://www.aboutschwab.com/citizenship.
