Young Americans Financial Literacy Act
The summary
What this bill does
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.
Legislative timeline
From introduction
Jan 16, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - IN District 7 · D-IN
50 cosponsors
U.S. Representative - RI District 1 · D-RI
U.S. Representative - CA District 44 · D-CA
U.S. Representative - OH District 11 · D-OH
U.S. Representative - LA District 2 · D-LA
U.S. Representative - HI District 1 · D-HI
U.S. Representative - IL District 6 · D-IL
Member of Congress · D-TN
Member of Congress · D-PA
U.S. Representative - NY District 13 · D-NY
U.S. Representative - PA District 3 · D-PA
U.S. Representative - CT District 5 · D-CT
U.S. Representative - DC · D-DC
+ 38 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
Loading the bill text comparison.
Bill Metadata
| Congress | 119 |
| Bill Type | HR |
| Bill Number | 486 |
| Origin Chamber | House |
| Current Status | 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. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | January 16, 2025 |
| Latest Action | January 16, 2025 |
| Cosponsors | 50 · House vote — · 1 views |