CFPB releases annual financial literacy report for 2025 – JD Supra

On May 15, the CFPB published its 2025 Financial Literacy Annual Report outlining the Bureau’s financial education priorities, including empowering military consumers and veterans, disseminating resources for older adults, providing youth financial education, and equipping consumers to identify and avoid fraud and scams. The report states that consumers used the CFPB’s educational resources 14.2 million times in 2025 and that the engagement rate for “Ask CFPB” was approximately 60 percent. The CFPB highlighted fraud and scam losses reported to federal agencies totaling between $12.5 billion and $16.6 billion in 2024, noting the true cost could be six or seven times higher due to underreporting. The report cites data showing that young adults aged 20 to 29 lose money to fraud and scams more often than people aged 70 to 79, although older adults suffer greater financial losses when victimized — with an estimated 32 million adults aged 60 and older experiencing fraud and scams in 2024. The servicemember community experienced $584 million in losses that year, according to FTC data.
The CFPB said that it will work with the Financial Literacy and Education Commission to advance the administration’s goals through an updated national strategy to promote financial literacy, including supporting the implementation of “Trump accounts” — tax-advantaged investment accounts for U.S. citizens under 18, which the report notes are intended to help young people save, invest, and develop financial knowledge and skills. The Bureau also said that it has begun developing educational resources related to Trump accounts to teach how investing early can help reach financial goals and to build children’s financial skills. The report also details ongoing outreach efforts, including military consumer law trainings, elder fraud prevention webinars, and participation in interagency coordinating bodies.
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