Young Americans Financial Literacy Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Aug 7, 2020)
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.
What just happenedAug 7, 2020
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.
Who’s behind it
- Introduced in HouseAug 7, 2020
- Aug 7, 2020IntroReferralH11100
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.
Education and the Workforce Committee - Aug 7, 2020IntroReferralH11100
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.
Financial Services Committee - Aug 7, 2020IntroReferralB00100
Sponsor introductory remarks on measure. (CR E740-741)
- Aug 7, 2020IntroReferralIntro-H
Introduced in House
- Aug 7, 2020IntroReferral1000
Introduced in House