National Financial Literacy Act of 2013
Latest action · Apr 12, 2013 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 12, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Financial Literacy Act of 2013 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.
Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs.
Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees.
Cosponsors 28
Members who signed on, in the order they did. Signatures ran from Apr 12, 2013 to Sep 18, 2014; 4 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IN | André Carson | Original | Apr 12, 2013 |
| D-FL | Corrine Brown | Original | Apr 12, 2013 |
| D-MI | Gary C. Peters | Original | Apr 12, 2013 |
| D-TX | Ruben Hinojosa | Original | Apr 12, 2013 |
| D-TX | Filemon Vela | Apr 17, 2013 | |
| D-CA | Barbara Lee | May 21, 2013 | |
| D-TX | Al Green | May 23, 2013 | |
| D-MS | Bennie G. Thompson | May 23, 2013 | |
| D-IL | Bobby L. Rush | May 23, 2013 | |
| D-LA | Cedric L. Richmond | May 23, 2013 | |
| D-NY | Charles B. Rangel | May 23, 2013 | |
| D-GA | David Scott | May 23, 2013 | |
| D-NJ | Donald M. Payne, Jr. | May 23, 2013 | |
| D-VI | Donna M. Christensen | May 23, 2013 | |
| D-MO | Emanuel Cleaver | May 23, 2013 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Apr 12, 2013 |
| House | Financial Services Committee | Referred Apr 12, 2013 |
Actions 3
Everything that happened, newest first.
- Apr 12, 2013Introduced in House
- Apr 12, 2013Sponsor introductory remarks on measure. (CR E448-449)
- Apr 12, 2013Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H1992.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To provide incentives to encourage financial institutions and small businesses to provide continuing financial education to customers, borrowers, and employees, and for other purposes.
- Short Titles as Introduced
- National Financial Literacy Act of 2013
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative law and regulatory procedures
- Banking and financial institutions regulation
- Consumer credit
- Credit and credit markets
- Department of the Treasury
- Employee benefits and pensions
- Federal Deposit Insurance Corporation (FDIC)
- Federal Reserve System
- Finance and Financial Sector
- Financial literacy
- Financial services and investments
- Income tax credits
- National Credit Union Administration
- Small business
Text 1
Each version as it was printed, newest first.
- Apr 12, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
