H.R. 486

119th Congress

In Committee

Young Americans Financial Literacy Act

Sponsored byDemocrat:Rep. Carson, André [D-IN-7]IN· Introduced 16 January 2025
Open on Congress.gov

50

Cosponsors

5

Actions

0

Amendments

2

Committees

—

Since introduced

Introduced
Committee
Passed Chamber
Passed Both
Enacted
Step 1 of 0
Latest action

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.

16 January 2025·1 year ago

Summary

Introduced in House · Updated 2 April 2025

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.

Timeline

5 actions

  1. Sponsor introductory remarks on measure. (CR E40)

    16 January 2025 · IntroReferral

  2. 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.

    16 January 2025 · IntroReferral

  3. 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.

    16 January 2025 · IntroReferral

  4. Introduced in House

    16 January 2025 · IntroReferral

  5. Introduced in House

    16 January 2025 · IntroReferral

Sponsorship

50 cosponsors

Sponsor

Democrat:Rep. Carson, André [D-IN-7]IN

Cosponsors

  • Democrat50100%

Classification

Policy area

Finance and Financial Sector

Committees

2

  • Education and Workforce Committee

    House · Standing

    • Referred To16 Jan 2025

  • Financial Services Committee

    House · Standing

    • Referred To16 Jan 2025

Cosponsor momentum

Cumulative over time

Cosponsors grew from 23 on 16 January 2025 to 50 on 15 April 2026.

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