Last progress April 3, 2025 (9 months ago)
Introduced on April 3, 2025 by Joyce Beatty
Referred to the House Committee on Oversight and Government Reform.
Expresses the House’s support for promoting Financial Literacy Month and calls for public awareness activities. It highlights gaps in banking access, household emergency savings, and teen access to bank accounts, and encourages the Federal Government, state and local governments, schools, nonprofits, businesses, and the public to observe Financial Literacy Month with appropriate programs and events to improve personal financial education.
The Federal Deposit Insurance Corporation (FDIC) reports that at least 14.2 percent of U.S. households, or nearly 19,000,000 households, are unbanked or underbanked and lack access to basic financial services.
The preamble references the 2024 Consumer Financial Literacy and Preparedness Survey final report produced by the National Foundation for Credit Counseling (report is cited but no specific finding from it is quoted in this text).
The Board of Governors of the Federal Reserve’s Report on the Economic Well-Being of U.S. Households in 2021 found that 32 percent of adults could not cover a $400 emergency expense without borrowing or selling something of value.
The Federal Reserve Bank of New York’s Center for Microeconomic Data, in its Quarterly Report on Household Debt and Credit for Q4 2024, reported outstanding household debt of $18,040,000,000,000.
The preamble cites the 2024 Survey of the States: Economic and Personal Finance Education in Our Nation’s Schools, a biennial report by the Council for Economic Education (report is cited but no specific finding from it is quoted in this text).
This resolution mainly affects the public conversation and awareness around personal finance rather than creating new legal obligations or funding. Individuals and households (especially unbanked or underbanked people, those with little emergency savings, and teens without accounts) are the intended beneficiaries if awareness activities lead to improved education and access. Schools and educators may be encouraged to expand personal finance lessons or host related events; nonprofits and community groups may use the resolution as a prompt to organize local financial literacy programs. Financial institutions and businesses could increase outreach or product offerings aimed at basic banking and savings. Because the resolution does not appropriate funds or mandate action, the real-world effects depend on voluntary follow-through by federal, state, and local entities and private partners.
Updated 12 hours ago
Last progress April 30, 2025 (8 months ago)
