IV 
117TH CONGRESS 
1ST SESSION 
H. RES. 285 
Supporting the goals and ideals of ‘‘Financial Literacy Month’’. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 1, 2021 
Mrs. BEATTY (for herself, Mr. STIVERS, and Ms. TITUS) submitted the fol-
lowing resolution; which was referred to the Committee on Oversight and 
Reform 
RESOLUTION 
Supporting the goals and ideals of ‘‘Financial Literacy 
Month’’. 
Whereas according to the Federal Deposit Insurance Cor-
poration (referred hereinafter as the ‘‘FDIC’’), at least 
25.2 percent of households in the United States, or near-
ly 32,600,000 households with approximately 63,000,000 
adults, are unbanked or underbanked and therefore have 
not had an opportunity to access savings, lending, and 
other basic financial services; 
Whereas according to the 2018 Consumer Financial Literacy 
Survey final report of the National Foundation for Credit 
Counseling— 
(1) only 41 percent of adults in the United States 
have a budget; 
VerDate Sep 11 2014 
00:34 Apr 02, 2021
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6300
E:\BILLS\HR285.IH
HR285
kjohnson on DSK79L0C42PROD with BILLS
•HRES 285 IH 
(2) 79 percent of adults in the United States ac-
knowledged that they could benefit from additional advice 
and answers to everyday financial questions from a pro-
fessional; 
(3) 1 in 4 adults in the United States admitted they 
do not pay all their bills on time; and 
(4) 61 percent of adults have had credit card debt 
in the past 12 months and most have done nothing to ob-
tain a lower interest rate for their credit card debt; 
Whereas the Report on the Economic Well-Being of U.S. 
households by the Federal Reserve Bank of New York 
found that 40 percent of adults could not cover a $400 
emergency expense without borrowing or selling some-
thing of value; 
Whereas according to the statistical release of the Board of 
Governors of the Federal Reserve System for the fourth 
quarter of 2018 entitled ‘‘Financial Accounts of the 
United States: Flow of Funds, Balance Sheets, and Inte-
grated Macroeconomic Accounts’’, outstanding household 
debt in the United States was $15.6 trillion; 
Whereas according to the 2018 Survey of the States: Eco-
nomic and Personal Finance Education in Our Nation’s 
Schools, a biennial report by the Council for Economic 
Education— 
(1) only 22 States require students to take an eco-
nomics course as a high school graduation requirement; 
and 
(2) only 17 States require students to take a per-
sonal finance course as a high school graduation require-
ment, either independently or as part of an economics 
course; 
VerDate Sep 11 2014 
00:34 Apr 02, 2021
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6300
E:\BILLS\HR285.IH
HR285
kjohnson on DSK79L0C42PROD with BILLS
•HRES 285 IH 
Whereas according to the Gallup-HOPE Index, only 52 per-
cent of students in the United States have money in a 
bank or credit union account; 
Whereas expanding access to the safe, mainstream financial 
system will provide individuals with less expensive and 
more secure options for managing finances and building 
wealth; 
Whereas quality personal financial education is essential to 
ensure that individuals are prepared— 
(1) to manage money, credit, and debt; and 
(2) to become responsible workers, heads of house-
hold, investors, entrepreneurs, business leaders, and citi-
zens; 
Whereas increased financial literacy empowers individuals to 
make wise financial decisions and reduces the confusion 
caused by an increasingly complex economy; 
Whereas a greater understanding of, and familiarity with, fi-
nancial markets and institutions will lead to increased 
economic activity and growth; and 
Whereas, in 2003, Congress— 
(1) determined that coordinating Federal financial 
literacy efforts and formulating a national strategy is im-
portant; and 
(2) in light of that determination, passed the Finan-
cial Literacy and Education Improvement Act (20 U.S.C. 
9701 et seq.), establishing the Financial Literacy and 
Education Commission: Now, therefore, be it 
Resolved, That the House of Representatives— 
(1) supports the goals and ideals of ‘‘Financial 
Literacy Month’’ to raise public awareness about— 
VerDate Sep 11 2014 
00:34 Apr 02, 2021
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\HR285.IH
HR285
kjohnson on DSK79L0C42PROD with BILLS
•HRES 285 IH 
(A) the importance of personal financial 
education in the United States; and 
(B) the serious consequences that may re-
sult from a lack of understanding about per-
sonal finances; and 
(2) calls on the Federal Government, States, lo-
calities, schools, nonprofit organizations, businesses, 
and the people of the United States to observe Fi-
nancial Literacy Month with appropriate programs 
and activities. 
Æ 
VerDate Sep 11 2014 
00:34 Apr 02, 2021
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\HR285.IH
HR285
kjohnson on DSK79L0C42PROD with BILLS