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119th Congress Finance and Financial Sector

H.R. 486: Young Americans Financial Literacy Act

Introduced

  1. Introduced (completed)Jan 16, 2025
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Jan 16, 2025

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.
Read the full summary

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

50

Who scored on this bill

12 points earned
  1. 1André Carson D-IN SponsorIntroduced, reached a cosponsor milestone3 events+12
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Introductions and cosponsorships count toward weekly caps and show no points.

History

  1. Jan 16, 2025Introduced in the House by André Carson.
Show the full action history (3 actions)
  1. Jan 16, 2025Introduced in House
  2. Jan 16, 2025Sponsor introductory remarks on measure. (CR E40)
  3. 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.