Press release | The Associated Press
The Associated Press has announced that it will launch a two-year project to advance explanatory reporting on financial literacy, helping to spread personal finance knowledge to audiences historically underserved by the financial services industry.
AP will create a financial literacy team to help reach a younger, less affluent, and racially and ethnically diverse group of Americans — including people of color, Spanish speakers, and middle- and low-income households .
The team will produce personal finance journalism in words, visuals and graphics, and in multiple languages, while leveraging the expertise of AP journalists around the world to provide AP clients with data and insights. ideas on locating personal finance stories in their communities.
The effort is supported by the Charles Schwab Foundation, a private foundation separate from the Charles Schwab Corporation.
AP retains complete editorial control of all content.
“There is a crisis of financial illiteracy in the United States that is unfolding against a backdrop of growing wealth inequality,” said Noreen Gillespie, editor of AP Global Business. “As the government programs that have supported Americans’ finances during the pandemic begin to fade, many vulnerable people are likely to face new challenges. Now more than ever, it’s paramount for AP to build a dedicated personal finance journalism team that speaks to a truly diverse audience.
“Financial literacy is an essential life skill that everyone needs, but too many people in our country don’t have access to the tools and education they need to make smart financial decisions,” said the President of the Charles Schwab Foundation, Carrie Schwab-Pomerantz. “Together with the Associated Press, the Charles Schwab Foundation is helping to level the economic playing field by supporting the creation of personal finance content that meets the financial needs and wishes of underrepresented individuals and communities.”
The Charles Schwab Foundation grant is the latest example of how AP is working with foundations and nonprofits to expand coverage and reach new audiences.
Learn more about AP’s work with philanthropic organizations: http://apne.ws/mtgl8EB
See AP’s standards for working with outside groups: http://apne.ws/fUVcQZR
About the PA:
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP remains today the most trusted source of fast, accurate and unbiased information in all formats and the essential provider of technology and services critical to the information industry. More than half of the world’s population sees AP journalism every day. Online: www.ap.org
About the Charles Schwab Foundation:
The Charles Schwab Foundation is an independent, nonprofit, public benefit corporation, funded by The Charles Schwab Corporation and classified by the IRS as a 501(c)(3) charity. Internal Revenue Code. The Foundation is not part of Charles Schwab & Co., Inc. (Member SIPC) or its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate for those in need so that everyone has the opportunity to achieve financial well-being. More information is available at https://www.aboutschwab.com/citizenship