H.R. 486: Young Americans Financial Literacy Act

119th Congress · introduced 2025-01-16 · Finance and Financial Sector · Latest: 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.

federal

What does this mean?

Official title

Young Americans Financial Literacy Act

Plain 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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Young Americans Financial Literacy Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Carson, André [D-IN-7] · 50 cosponsors

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Cosponsors on this site

Gabe Amo (D-RI), Nanette Diaz Barragán (D-CA), Shontel M. Brown (D-OH), Troy A. Carter (D-LA), Ed Case (D-HI), Sean Casten (D-IL), Steve Cohen (D-TN), Madeleine Dean (D-PA), Adriano Espaillat (D-NY), Dwight Evans (D-PA), Jahana Hayes (D-CT), Eleanor Holmes Norton (D-DC), Henry C. "Hank" Johnson, Jr. (D-GA), Seth Magaziner (D-RI), James P. McGovern (D-MA), LaMonica McIver (D-NJ), Delia C. Ramirez (D-IL), Linda T. Sánchez (D-CA), Hillary J. Scholten (D-MI), Darren Soto (D-FL), Shri Thanedar (D-MI), Dina Titus (D-NV), Ritchie Torres (D-NY), Ilhan Omar (D-MN), Bonnie Watson Coleman (D-NJ), Joyce Beatty (D-OH), William R. Keating (D-MA), Donald G. Davis (D-NC), Johnny Olszewski, Jr. (D-MD), Kweisi Mfume (D-MD), Bennie G. Thompson (D-MS), Adam Smith (D-WA), Marc A. Veasey (D-TX), Kevin Mullin (D-CA), Steven Horsford (D-NV), Salud O. Carbajal (D-CA), Jill N. Tokuda (D-HI), Jesús G. "Chuy" García (D-IL), Rashida Tlaib (D-MI), Frederica S. Wilson (D-FL), Veronica Escobar (D-TX), Shomari Figures (D-AL), Yvette D. Clarke (D-NY), Sarah McBride (D-DE), Ted Lieu (D-CA), Julie Johnson (D-TX), Angie Craig (D-MN), Suzanne Bonamici (D-OR), Raja Krishnamoorthi (D-IL)

Sponsor's campaign money: Rep. Carson, André [D-IN-7] reported raising $1.1 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

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Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr486.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>

Record fed-us-cong119-hr486 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills