Young Americans Financial Literacy Act

# Young Americans Financial Literacy Act Summary **What the Bill Does:** This bill would direct the Consumer Financial Protection Bureau (a federal agency that oversees consumer finances) to give grants to organizations that teach young people and families about managing money. These grants would fund programs teaching financial basics, training teachers in financial education, helping reduce student loan defaults, and studying what works best in financial literacy education. **Who It Affects:** The bill primarily benefits young Americans and families who would gain access to financial education programs. It also affects eligible organizations—including schools, nonprofits, local government agencies, and banks—that could apply for and receive grant funding to run these programs. **Key Provisions & Status:** Grants would go to partnerships of at least two different types of organizations (like a school partnering with a bank or nonprofit).

The grant program was authorized to run through fiscal year 2020. The bill is currently in committee, meaning it has been introduced but hasn't yet been voted on by the full House of Representatives.