Young Americans Financial Literacy Act
Latest action · Jan 16, 2025 Referred to the Committee on Financial Services, and in addition to the Committee on Education and 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.
- IntroducedJan 16, 2025
- 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;
- developing and supporting the delivery of professional development programs in financial literacy education;
- developing educational programs to reduce student loan default rates; and
- conducting ongoing research and evaluation of financial literacy education programs.
The grant program shall terminate after FY2029.
Cosponsors 50
Members who signed on, in the order they did. Signatures ran from Jan 16, 2025 to Apr 15, 2026; 23 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Adriano Espaillat | Original | Jan 16, 2025 |
| D-FL | Darren Soto | Original | Jan 16, 2025 |
| D-IL | Delia C. Ramirez | Original | Jan 16, 2025 |
| D-NV | Dina Titus | Original | Jan 16, 2025 |
| D-PA | Dwight Evans | Original | Jan 16, 2025 |
| D-HI | Ed Case | Original | Jan 16, 2025 |
| D-DC | Eleanor Holmes Norton | Original | Jan 16, 2025 |
| D-RI | Gabe Amo | Original | Jan 16, 2025 |
| D-GA | Henry C. "Hank" Johnson, Jr. | Original | Jan 16, 2025 |
| D-MI | Hillary J. Scholten | Original | Jan 16, 2025 |
| D-CT | Jahana Hayes | Original | Jan 16, 2025 |
| D-MA | James P. McGovern | Original | Jan 16, 2025 |
| D-NJ | LaMonica McIver | Original | Jan 16, 2025 |
| D-CA | Linda T. Sánchez | Original | Jan 16, 2025 |
| D-PA | Madeleine Dean | Original | Jan 16, 2025 |
| D-CA | Nanette Diaz Barragán | Original | Jan 16, 2025 |
| D-NY | Ritchie Torres | Original | Jan 16, 2025 |
| D-IL | Sean Casten | Original | Jan 16, 2025 |
| D-RI | Seth Magaziner | Original | Jan 16, 2025 |
| D-OH | Shontel M. Brown | Original | Jan 16, 2025 |
| D-MI | Shri Thanedar | Original | Jan 16, 2025 |
| D-TN | Steve Cohen | Original | Jan 16, 2025 |
| D-LA | Troy A. Carter | Original | Jan 16, 2025 |
| D-MN | Ilhan Omar | Jan 21, 2025 | |
| D-NJ | Bonnie Watson Coleman | Jan 22, 2025 | |
| D-OH | Joyce Beatty | Jan 22, 2025 | |
| D-MA | William R. Keating | Jan 23, 2025 | |
| D-NC | Donald G. Davis | Feb 4, 2025 | |
| D-MD | Johnny Olszewski, Jr. | Feb 4, 2025 | |
| D-MD | Kweisi Mfume | Feb 10, 2025 | |
| D-MS | Bennie G. Thompson | Feb 13, 2025 | |
| D-WA | Adam Smith | Feb 25, 2025 | |
| D-TX | Marc A. Veasey | Mar 10, 2025 | |
| D-CA | Kevin Mullin | Mar 11, 2025 | |
| D-HI | Jill N. Tokuda | Mar 24, 2025 | |
| D-CA | Salud O. Carbajal | Mar 24, 2025 | |
| D-NV | Steven Horsford | Mar 24, 2025 | |
| D-IL | Jesús G. "Chuy" García | Mar 25, 2025 | |
| D-MI | Rashida Tlaib | Mar 25, 2025 | |
| D-FL | Frederica S. Wilson | Apr 28, 2025 | |
| D-TX | Veronica Escobar | May 19, 2025 | |
| D-AL | Shomari Figures | Jul 29, 2025 | |
| D-NY | Yvette D. Clarke | Aug 19, 2025 | |
| D-DE | Sarah McBride | Aug 29, 2025 | |
| D-FL | Sheila Cherfilus-McCormick | Aug 29, 2025 | |
| D-TX | Julie Johnson | Oct 3, 2025 | |
| D-CA | Ted Lieu | Oct 3, 2025 | |
| D-MN | Angie Craig | Nov 12, 2025 | |
| D-OR | Suzanne Bonamici | Apr 13, 2026 | |
| D-IL | Raja Krishnamoorthi | Apr 15, 2026 |
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 Jan 16, 2025 |
| House | Education and Workforce Committee | Referred Jan 16, 2025 |
Actions 3
Everything that happened, newest first.
- Jan 16, 2025Sponsor introductory remarks on measure. (CR E40)
- Jan 16, 2025Introduced in House
- Jan 16, 2025Referred to the Committee on Financial Services, and in addition to the Committee on Education and 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 E40 | André Carson D-IN | Jan 16, 2025 |
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. 171, no. 9, January 16, 2025, page H222.
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.
- Jan 16, 2025Introduced 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.
