HR486Referred to Committee

Young Americans Financial Literacy Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-01-16
Introduced
50
Cosponsors
HR
ⓘ
Type

Sponsor

André Carson
André Carson
Democrat · IN · Representative
Votes with party: 98.0% (602 recorded votes)

Full profile: /officials/C001072

Source: Congress.gov · FEC

Cosponsors (50)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

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.

2025-01-16

Source: Congress.gov

Committee Activity

Currently in

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Plain-English 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
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