Young Americans Financial Literacy Act
Latest action · Apr 25, 2023 Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, 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 25, 2023
- 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 53
Members who signed on, in the order they did. Signatures ran from Apr 25, 2023 to Oct 1, 2024; 38 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-WA | Adam Smith | Original | Apr 25, 2023 |
| D-NY | Adriano Espaillat | Original | Apr 25, 2023 |
| D-NH | Ann M. Kuster | Original | Apr 25, 2023 |
| D-CA | Barbara Lee | Original | Apr 25, 2023 |
| D-MS | Bennie G. Thompson | Original | Apr 25, 2023 |
| D-NJ | Bonnie Watson Coleman | Original | Apr 25, 2023 |
| D-IL | Danny K. Davis | Original | Apr 25, 2023 |
| D-FL | Darren Soto | Original | Apr 25, 2023 |
| D-MD | David J. Trone | Original | Apr 25, 2023 |
| D-NV | Dina Titus | Original | Apr 25, 2023 |
| D-PA | Dwight Evans | Original | Apr 25, 2023 |
| D-OR | Earl Blumenauer | Original | Apr 25, 2023 |
| D-HI | Ed Case | Original | Apr 25, 2023 |
| D-DC | Eleanor Holmes Norton | Original | Apr 25, 2023 |
| D-FL | Frederica S. Wilson | Original | Apr 25, 2023 |
| D-MP | Gregorio Kilili Camacho Sablan | Original | Apr 25, 2023 |
| D-GA | Henry C. "Hank" Johnson, Jr. | Original | Apr 25, 2023 |
| D-MI | Hillary J. Scholten | Original | Apr 25, 2023 |
| D-MN | Ilhan Omar | Original | Apr 25, 2023 |
| D-CT | Jahana Hayes | Original | Apr 25, 2023 |
| D-MA | James P. McGovern | Original | Apr 25, 2023 |
| D-TX | Jasmine Crockett | Original | Apr 25, 2023 |
| D-IL | Jesús G. "Chuy" García | Original | Apr 25, 2023 |
| D-HI | Jill N. Tokuda | Original | Apr 25, 2023 |
| D-OH | Joyce Beatty | Original | Apr 25, 2023 |
| D-PA | Madeleine Dean | Original | Apr 25, 2023 |
| D-TX | Marc A. Veasey | Original | Apr 25, 2023 |
| D-CA | Mark DeSaulnier | Original | Apr 25, 2023 |
| D-CA | Nanette Diaz Barragán | Original | Apr 25, 2023 |
| D-MI | Rashida Tlaib | Original | Apr 25, 2023 |
| D-NY | Ritchie Torres | Original | Apr 25, 2023 |
| D-CA | Salud O. Carbajal | Original | Apr 25, 2023 |
| D-CA | Sara Jacobs | Original | Apr 25, 2023 |
| D-OH | Shontel M. Brown | Original | Apr 25, 2023 |
| D-TN | Steve Cohen | Original | Apr 25, 2023 |
| D-TX | Sylvia R. Garcia | Original | Apr 25, 2023 |
| D-LA | Troy A. Carter | Original | Apr 25, 2023 |
| D-MA | William R. Keating | Original | Apr 25, 2023 |
| D-TX | Veronica Escobar | Jul 13, 2023 | |
| D-NM | Melanie A. Stansbury | Oct 26, 2023 | |
| D-CA | Kevin Mullin | Dec 6, 2023 | |
| D-CA | Raul Ruiz | Jan 5, 2024 | |
| D-IL | Jonathan L. Jackson | Jun 25, 2024 | |
| D-MD | Kweisi Mfume | Jun 25, 2024 | |
| D-TX | Sheila Jackson Lee | Jun 25, 2024 | |
| D-MI | Shri Thanedar | Jun 25, 2024 | |
| D-NC | Wiley Nickel | Jun 25, 2024 | |
| D-IL | Sean Casten | Jul 15, 2024 | |
| D-NV | Steven Horsford | Aug 2, 2024 | |
| D-WA | Rick Larsen | Aug 20, 2024 | |
| D-IL | Delia C. Ramirez | Sep 3, 2024 | |
| D-RI | Gabe Amo | Sep 10, 2024 | |
| D-RI | Seth Magaziner | Oct 1, 2024 |
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 Apr 25, 2023 |
| House | Education and Workforce Committee | Referred Apr 25, 2023 |
Actions 3
Everything that happened, newest first.
- Apr 25, 2023Introduced in House
- Apr 25, 2023Sponsor introductory remarks on measure. (CR E349)
- Apr 25, 2023Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, 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 E349 | André Carson D-IN | Apr 25, 2023 |
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. 169, no. 69, April 25, 2023, page H1948.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3483 | Young Americans Financial Literacy Act | Reintroduction of | May 25, 2021 |
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.
Text 1
Each version as it was printed, newest first.
- Apr 25, 2023Introduced 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.
