Proclamation 6547—National Credit Education Week, 1993

Consumer credit is an integral part of the free enterprise economy of the United States. The vast array of credit products has expanded opportunities for consumers. At the same time, this trend has increased consumers' need for simple, understandable information about their options. Informed consumers who know their choices, rights, and responsibilities are better able to choose and use credit wisely. The prudent use of credit increases economic stability and enhances market competition.

The theme of this year's observance, "Good Credit--Unlimited Opportunities," recognizes that consumers, with careful budgeting and planning, can benefit from increased choices and opportunities in today's marketplace. Credit education is crucial to helping the public use credit wisely and responsibly. A good credit record can help a consumer obtain a job, finance a child's education, and obtain a mortgage to buy a home.

Tests of adults and high school students across the Nation show that consumers in the United States are not prepared adequately to deal with complex consumer credit choices. Even though the rights of consumers in credit transactions are guaranteed in Federal and State laws, most consumers have little understanding of their rights or of the agencies responsible for protecting these rights. Consumers clearly can benefit a great deal from expanded consumer credit education efforts.

In recognition of the importance of the prudent use of credit, the Congress, by Public Law 102-483, has designated the week beginning April 18, 1993, as "National Credit Education Week" and has authorized and requested the President to issue a proclamation in observance of this week.

Now, Therefore, I, William J. Clinton, President of the United States of America, do hereby proclaim the week beginning April 18, 1993, as National Credit Education Week. I encourage all Americans--particularly business people, educators, public officials, consumer advocates, community organizations, and members of the media--to observe this week with appropriate programs and activities to educate and inform consumers about their credit rights and responsibilities and about the benefits of the wise use of credit.

In Witness Whereof, I have hereunto set my hand this twenty-second day of April, in the year of our Lord nineteen hundred and ninety-three, and of the Independence of the United States of America the two hundred and seventeenth.

WILLIAM J. CLINTON