HOUSE 3483117th CongressReferred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Young Americans Financial Literacy Act
- Last Action
- 5/25/2021
Actions
- 2021-05-25Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-25Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-25Sponsor introductory remarks on measure. (CR E577)
- 2021-05-25Introduced in House
- 2021-05-25Introduced in House
CRS Summary
As of 2021-05-25 (00)
Young Americans Financial Literacy Act
This bill requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of financial literacy education programs for young people and families. An eligible institution is a partnership among two or more of the following
- an institution of higher education;
- a state or local government agency specializing in financial education;
- a nonprofit agency, organization, or association;
- a financial institution; or
- another small organization.
Authorized grant funded activities shall include
- developing and implementing comprehensive, research based, financial-literacy education programs for young people;
- designing instructional materials;
- developing and supporting the delivery of professional development programs in financial literacy education;
- improving access to, and dissemination of, financial literacy information for young people and families;
- developing educational programs to reduce student loan default rates;
- conducting ongoing research and evaluation of financial literacy education programs; and
- measuring the effectiveness of authorized activities.
The grant program shall terminate after FY2025.
Cosponsors (20)
- Nanette Barragan (D-CA)
- Joyce Beatty (D-OH)
- ELEANOR NORTON (D-DC)
- Jahana Hayes (D-CT)
- Juan Vargas (D-CA)
- EDDIE JOHNSON (D-TX)
- Dina Titus (D-NV)
- Jesus Garcia (D-IL)
- JAMES MCGOVERN (D-MA)
- BENNIE THOMPSON (D-MS)
- Thomas Suozzi (D-NY)
- David Trone (D-MD)
- SHEILA JACKSON LEE (D-TX)
- Ilhan Omar (D-MN)
- Frederica Wilson (D-FL)
- Dwight Evans (D-PA)
- MARCY KAPTUR (D-OH)
- Melanie Stansbury (D-NM)
- Marc Veasey (D-TX)
- Brenda Lawrence (D-MI)
Subjects
- Adult education and literacy
- Congressional oversight
- Consumer credit
- Education programs funding
- Elementary and secondary education
- Financial literacy
- Financial services and investments
- Higher education
- Research administration and funding
- Student aid and college costs
- Teaching, teachers, curricula
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.