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HR 2840 110th Congress House

National Financial Literacy Act of 2007

Official title: To amend the Community Reinvestment Act of 1977 to allow the direct support by a financial institution of a qualified community-based financial literacy progra… Show full official titleShow less

Official title: To amend the Community Reinvestment Act of 1977 to allow the direct support by a financial institution of a qualified community-based financial literacy program provided to consumers and borrowers to be taken into account in assessing the institution's record of meeting the credit needs of its entire community, and for other purposes.

Introduced: September 11, 2008 See on congress.gov
Finance and Financial Sector Administrative procedureBank examinationCommunity development bankingDepartment of the Treasury
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Federal Deposit Insurance CorporationFederal Reserve SystemFinancial planningFinancial servicesGovernment Operations and PoliticsGovernment corporationsLawNational Credit Union AdministrationPersonal budgets
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 17, 2007
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jun 22, 2007
Referred to the House Committee on Financial Services.
Jun 22, 2007
Introduced in House
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 Latest action July 17, 2007

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

National Financial Literacy Act of 2007 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.

Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 6
All 6 Democratic 5
D
McGovern, James P.
Massachusetts · Sep 11, 2008
CHRISTENSEN, DONNA
· Feb 7, 2008
 D
Green, Al
Texas · Jan 29, 2008
 D
Doggett, Lloyd
Texas · Oct 23, 2007
 D
Moore, Gwen
Wisconsin · Oct 3, 2007
 D
Bishop, Sanford D.
Georgia · Jul 16, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2840: National Financial Literacy Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-2840/
MLA
"H.R. 2840: National Financial Literacy Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-2840/.
Bluebook (legal)
H.R. 2840, 110th Cong. (2026), https://openamerica.io/bill/110-HR-2840/.
Markdown link
[H.R. 2840: National Financial Literacy Act of 2007](https://openamerica.io/bill/110-HR-2840/)
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