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HR 2674 115th Congress House Finance and Financial Sector Adult education and literacy Education programs funding Elementary and secondary education Financial literacy Higher education Research administration and funding Teaching, teachers, curricula

Young Americans Financial Literacy Act

Introduced: May 25, 2017 Introduced by: Carson, André Democratic · Indiana See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 25, 2017
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.
May 25, 2017
Sponsor introductory remarks on measure. (CR E733)
May 25, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Young Americans Financial Literacy Act

This bill requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of centers of excellence to support research, development, implementation, and evaluation of effective 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 local educational agency;
  • a nonprofit agency, organization, or association; or
  • a financial institution.

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 FY2019.

What's happening now May 25, 2017

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.

 Committees of jurisdiction 2