H. Res. 327 
In the House of Representatives, U. S., 
April 30, 2019. 
Whereas personal financial literacy is essential to ensuring 
that individuals are prepared to make informed decisions 
about budgeting, financial planning, wealth accumulation, 
higher education loans, 529 savings plans, managing 
credit cards, and managing other debt; 
Whereas often young people are ill-equipped to handle major 
financial decisions in an increasingly complex financial 
marketplace; 
Whereas personal financial management skills begin to de-
velop during childhood; 
Whereas, according to the report of the Girl Scout Research 
Institute entitled ‘‘Having it All: Girls and Financial Lit-
eracy’’, only 12 percent of girls feel very confident about 
making financial decisions; 
Whereas the move away from traditional pensions and toward 
defined contribution plans requires more financial edu-
cation, so workers need to be equipped with the financial 
aptitude to not only save and accumulate assets, but also 
to turn those assets into lifetime income; 
Whereas the Council for Economic Education found that only 
22 States require high schools to offer some type of per-
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sonal finance course and only 17 States require that 
course for high school graduation; 
Whereas a longitudinal research study by the University of 
Arizona found that high school and college students who 
have been exposed to ongoing financial education show an 
increase in financial knowledge; 
Whereas the 2015 National Financial Capability Study, de-
veloped in consultation with the Department of the 
Treasury and President’s Advisory Council on Financial 
Capability, updates key measures from the 2009 National 
Financial Capability Study of American adults and 
deepens the exploration of topics that are highly relevant 
today, including student loans and medical debt; 
Whereas the Federal Reserve System offers publications in 
English and Spanish that provide consumers tips on a 
broad range of topics, from avoiding mortgage foreclosure 
scams to managing a checking account; 
Whereas a study conducted by Daniel Fernandes, John G. 
Lynch, Jr., and Richard Netemeyer entitled ‘‘Financial 
Literacy, Financial Education and Downstream Financial 
Behaviors’’ found that it ‘‘is best to provide assistance 
just before a decision is made in what is known as ‘just- 
in-time education’ ’’; and 
Whereas on September 6, 2018, the U.S. House of Rep-
resentatives passed, by a vote of 406 to 4, H.R. 1635, 
the Empowering Students Through Enhanced Financial 
Counseling Act, which helps improve financial aid coun-
seling for students receiving a Pell Grant or a Federal 
loan: Now, therefore, be it 
Resolved, That the House of Representatives—
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(1) emphasizes the importance of raising awareness 
of individual financial capability by providing relevant in-
formation, financial workshops, and other decision-mak-
ing tools to consumers of all ages; 
(2) supports the efforts of Federal financial agen-
cies to partner with organizations that are focused on 
developing opportunities for minorities and women to 
place talented young minorities and women in industry 
internships, summer employment, and full-time posi-
tions; 
(3) supports the efforts of the Federal financial 
agencies to provide consumers with relevant information 
and decision-making tools regarding important financial 
decisions; and 
(4) urges the Department of the Treasury to con-
sult with the Financial Industry Regulatory Authority 
and implement future national financial capability stud-
ies. 
Attest: 
Clerk.