Young Americans Financial Literacy Act
Latest action · May 25, 2021 Referred 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.
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.
- IntroducedMay 25, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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 23
Members who signed on, in the order they did. Signatures ran from Mar 15, 2022 to Nov 10, 2022.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Nanette Diaz Barragán | Mar 15, 2022 | |
| D-DC | Eleanor Holmes Norton | Mar 17, 2022 | |
| D-CT | Jahana Hayes | Mar 17, 2022 | |
| D-OH | Joyce Beatty | Mar 17, 2022 | |
| D-CA | Juan Vargas | May 11, 2022 | |
| D-TX | Eddie Bernice Johnson | May 17, 2022 | |
| D-NV | Dina Titus | May 24, 2022 | |
| D-IL | Jesús G. "Chuy" García | May 31, 2022 | |
| D-MA | James P. McGovern | Jun 14, 2022 | |
| D-MS | Bennie G. Thompson | Jun 23, 2022 | |
| D-NY | Thomas R. Suozzi | Jun 23, 2022 | |
| D-MD | David J. Trone | Jun 24, 2022 | |
| D-TX | Sheila Jackson Lee | Jul 1, 2022 | |
| D-MN | Ilhan Omar | Jul 12, 2022 | |
| D-FL | Frederica S. Wilson | Jul 19, 2022 | |
| D-PA | Dwight Evans | Jul 28, 2022 | |
| D-TX | Marc A. Veasey | Aug 26, 2022 | |
| D-OH | Marcy Kaptur | Aug 26, 2022 | |
| D-NM | Melanie A. Stansbury | Aug 26, 2022 | |
| D-MI | Brenda L. Lawrence | Oct 4, 2022 | |
| D-OR | Earl Blumenauer | Oct 31, 2022 | |
| D-NY | Jamaal Bowman | Nov 10, 2022 | |
| D-CA | Mark DeSaulnier | Nov 10, 2022 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 25, 2021 |
| House | Education and Workforce Committee | Referred May 25, 2021 |
Actions 3
Everything that happened, newest first.
- May 25, 2021Introduced in House
- May 25, 2021Sponsor introductory remarks on measure. (CR E577)
- May 25, 2021Referred 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.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E577 | André Carson D-IN | May 25, 2021 |
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 Congressional Record, vol. 167, no. 91, May 25, 2021, page H2667.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2821 | Young Americans Financial Literacy Act | Reintroduced Bill | Apr 25, 2023 |
| HR 7953 | Young Americans Financial Literacy Act | Reintroduction of | Aug 7, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To establish a grant program in the Bureau of Consumer Financial Protection to fund the establishment of centers of excellence to support research, development and planning, implementation, and evaluation of effective programs in financial literacy education for young people and families ages 8 through 24 years old, and for other purposes.
- Short Title(s) as Introduced
- Young Americans Financial Literacy Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Adult education and literacy
- Congressional oversight
- Consumer credit
- Education programs funding
- Elementary and secondary education
- Finance and Financial Sector
- Financial literacy
- Financial services and investments
- Higher education
- Research administration and funding
- Student aid and college costs
- Teaching, teachers, curricula
Text 1
Each version as it was printed, newest first.
- May 25, 2021Introduced 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.
