[Congressional Record Volume 156, Number 133 (Wednesday, September 29, 2010)]
[Extensions of Remarks]
[Pages E1833-E1834]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           H.R. 6193, THE FOSTER YOUTH FINANCIAL SECURITY ACT

                                 ______
                                 

                         HON. JAMES R. LANGEVIN

                            of rhode island

                    in the house of representatives

                     Wednesday, September 29, 2010

  Mr. LANGEVIN. Madam Speaker, last week I introduced H.R. 6193, the 
Foster Youth Financial Security Act. This legislation will prepare 
foster youth who are transitioning to adulthood to properly manage 
their finances and provide greater protections of their financial 
information while they are under the care of the state.
  Foster children are disproportionately victims of identity theft 
because their personal information passes through many hands, 
increasing the chances that someone will open

[[Page E1834]]

an account in their name or use their Social Security Number (SSN). 
This bill would require that all foster children have their credit 
reports reviewed, and cleared if there is an inaccuracy, prior to 
leaving care. It would also end the use of a child's SSN as an 
identifier. Currently, there is no available data on how many children 
have been affected by identity theft; this legislation will track the 
number of stolen identities by state. The bill allows the states to 
obtain assistance from both the Department of Health and Human Services 
and the Federal Trade Commission on how best to protect their foster 
youth.
  This legislation will also strengthen the financial security of 
foster youth and empower them to make responsible financial decisions 
as adults. Research shows that current and for former foster youth are 
more likely to forego higher education, be in poor health, become 
homeless, and rely on public supports as adults. This legislation would 
provide resources for a successful transition to adulthood by helping 
foster youth obtain a driver's license or state identification card, 
obtain auto insurance, open a bank account, and apply for student 
loans. This bill would also help foster youth determine if they are 
eligible for federal or state benefits and provide them with 
information on accessing health care and safe and affordable housing. 
Financial literacy classes would be available for foster children and 
their foster parents.
  The Foster Youth Financial Security Act also provides seed money for 
each state to set up Individual Development Accounts for foster youth 
so they leave care with a nest egg to pay for housing, education, and 
job training. This bill would provide $45 million for the states to 
carry out the above initiatives and an additional $5 million for 
technical assistance.
  I would like to thank my colleague, Congressman Stark, for joining me 
on this bill, as well as introducing H.R. 6192, the Foster Children 
Self Support Act, of which I'm a proud original cosponsor. These bills 
will provide foster youth with the tools they need and deserve to 
become successful adults.

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