[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1238 Introduced in House (IH)]

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119th CONGRESS
  2d Session
H. RES. 1238

  Encouraging greater public-private sector collaboration to promote 
           financial literacy for students and young adults.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 30, 2026

  Mr. Foster (for himself, Ms. Velazquez, Mrs. Beatty, and Ms. Bynum) 
submitted the following resolution; which was referred to the Committee 
                         on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
  Encouraging greater public-private sector collaboration to promote 
           financial literacy for students and young adults.

Whereas personal financial literacy is essential to ensuring that individuals 
        are prepared to make informed decisions about budgeting, financial 
        planning, wealth accumulation, higher education loans, 529 savings 
        plans, managing credit cards, and managing other debt;
Whereas many young people are ill-equipped to handle major financial decisions 
        in an increasingly complex financial marketplace;
Whereas personal financial management skills begin to develop during childhood;
Whereas, according to the report of the Girl Scout Research Institute entitled 
        ``Having It All: Girls and Financial Literacy'', only 12 percent of 
        girls feel very confident about making financial decisions;
Whereas the move away from traditional pensions and toward defined contribution 
        plans requires more financial education, so workers need to be equipped 
        with the financial aptitude to not only save and accumulate assets, but 
        also to turn those assets into lifetime income;
Whereas the Council for Economic Education found that only 22 States require 
        high school students to take some type of economics course and 39 States 
        require a personal finance course for high school graduation;
Whereas a longitudinal research study by the University of Arizona found that 
        high school and college students who have been exposed to ongoing 
        financial education show an increase in financial knowledge;
Whereas the Bureau of Consumer Financial Protection was created to educate 
        consumers and help consumers make better-informed financial decisions by 
        helping make the financial markets safer for consumers, increasing 
        transparency to enable individuals to compare products and make informed 
        decisions, and promoting policies that help consumers improve their 
        financial knowledge and capability;
Whereas the Bureau's 2024 Financial Literacy Annual Report included a number of 
        recommendations to improve financial literacy for students;
Whereas the Bureau's Money as You Grow initiative provides age-appropriate 
        financial lesson plans for educators to show how personal finance can 
        provide appropriate context and content for mathematics and English 
        language arts teaching;
Whereas section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection 
        Act (12 U.S.C. 5452) directs the Federal financial regulatory agencies 
        to partner with high schools in targeted areas to help promote financial 
        literacy and to create ``industry internships, summer employment, and 
        full-time positions'' for talented minorities and women;
Whereas the National Financial Capability Study, developed in consultation with 
        the Department of the Treasury and former President Barack Obama's 
        Advisory Council on Financial Capability, continues to update key 
        measures from the 2009 National Financial Capability Study of American 
        adults and deepens the exploration of topics that are highly relevant 
        today, including student loans and medical debt;
Whereas the Federal Reserve System offers publications in English and Spanish 
        that provide consumers tips on a broad range of topics, from avoiding 
        mortgage foreclosure scams to managing a checking account; and
Whereas a study conducted by Daniel Fernandes, John G. Lynch, Jr., and Richard 
        Netemeyer entitled ``Financial Literacy, Financial Education and 
        Downstream Financial Behaviors'' found that it ``is best to provide 
        assistance just before a decision is made in what is known as `just-in-
        time education''': Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) emphasizes the importance of raising awareness of 
        individual financial capability by providing relevant 
        information, financial workshops, and other decision making 
        tools to consumers of all ages;
            (2) reaffirms the purposes of section 342 of the Dodd-Frank 
        Act (12 U.S.C. 5452), which directs Federal financial agencies 
        to partner with organizations that are focused on developing 
        opportunities for minorities and women to place talented young 
        minorities and women in industry internships, summer 
        employment, and full-time positions;
            (3) supports the efforts of the Bureau of Consumer Finance 
        Protection to provide consumers with relevant information and 
        decision making tools regarding important financial decisions; 
        and
            (4) urges the Department of the Treasury to consult with 
        the Financial Industry Regulatory Authority and implement 
        future national financial capability studies.
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