Legislation

H.Res.1154 raises public awareness about the importance of personal financial education in the United States and the serious consequences that may result from a lack of understanding about personal finances. It also calls on the Federal Government, States, localities, schools, nonprofit organizations, and businesses to observe Financial Literacy Month with appropriate programs and activities. 

H.R. 4899 gives first-time homebuyers a 0.25% discount on their mortgage premium from the Federal Housing Administration (FHA) if they complete a financial literacy housing counseling course before applying for a mortgage or entering into a sales agreement. This bill was introduced by Reps. Joyce Beatty (OH-03) and Mike Carey (OH-15).

H.R. 4118 would include financial literacy education as a graduation requirement in high schools operated by the Department of Defense Education Activity. This bill was introduced by Rep. Rick Larsen (WA-02).

H.R. 2943 creates a grant program within the Department of Education to promote financial literacy programs for K-12 students, prioritizing schools that serve underbanked populations. The legislation promotes partnerships between non-profits, community groups, schools, and financial institutions. This bill was introduced by Reps.

H.R. 2821 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: