# 116-hr-7953: Young Americans Financial Literacy Act

116-hr-7953, Young Americans Financial Literacy Act, is a 116th Congress bill sponsored by Rep. Carson, André [D-IN-7] (D-IN); status Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7953
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7953
- Congress: 116
- Title: Young Americans Financial Literacy Act
- Status: Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, 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.
- Introduced: 2020-08-07
- Sponsor: Rep. Carson, André [D-IN-7] (D-IN)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## 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; designing instructional materials; developing and supporting the delivery of professional development programs in financial literacy education; improving access to, and dissemination of, financial literacy information for young people and families; developing educational programs to reduce student loan default rates; conducting ongoing research and evaluation of financial literacy education programs; and measuring the effectiveness of authorized activities. The grant program shall terminate after FY2025.

## Related bills

- 116-hr-9053: No Congressional Gun Loophole Act
- 116-hr-8994: Restoring Students’ Right to Appeal Act of 2020
- 116-hr-8912: Diversity and Inclusion at the Department of State Act
- 116-hr-8898: Neglected Infections of Impoverished Americans Act of 2020
- 116-hr-8809: LOVE Act of 2020
- 116-hr-8797: Commission on American Civics Education Act of 2020

## Sources
- [116-hr-7953 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7953)

## Related
- [116-hr-9053: No Congressional Gun Loophole Act](https://policyrisk.com/legislation/116-hr-9053)
- [116-hr-8994: Restoring Students’ Right to Appeal Act of 2020](https://policyrisk.com/legislation/116-hr-8994)
- [116-hr-8912: Diversity and Inclusion at the Department of State Act](https://policyrisk.com/legislation/116-hr-8912)
- [116-hr-8898: Neglected Infections of Impoverished Americans Act of 2020](https://policyrisk.com/legislation/116-hr-8898)
- [116-hr-8809: LOVE Act of 2020](https://policyrisk.com/legislation/116-hr-8809)
- [116-hr-8797: Commission on American Civics Education Act of 2020](https://policyrisk.com/legislation/116-hr-8797)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7953 (as of 2025-11-18).