I 
115TH CONGRESS 
1ST SESSION H. R. 2674 
To establish a grant program in the Bureau of Consumer Financial Protection 
to fund the establishment of centers of excellence to support research, 
development and planning, implementation, and evaluation of effective 
programs in financial literacy education for young people and families 
ages 8 through 24 years old, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 25, 2017 
Mr. CARSON of Indiana introduced the following bill; which was referred to 
the Committee on Financial Services, and in addition to the Committee 
on Education and the Workforce, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To establish a grant program in the Bureau of Consumer 
Financial Protection to fund the establishment of centers 
of excellence to support research, development and plan-
ning, implementation, and evaluation of effective pro-
grams in financial literacy education for young people 
and families ages 8 through 24 years old, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Young Americans Fi-
nancial Literacy Act’’. 
SEC. 2. FINDINGS. 
The Congress finds as follows: 
(1) That 87 percent of Americans believe fi-
nance education should be taught in schools and 92 
percent of K–12 teachers believe that financial edu-
cation should be taught in school, but only 12 per-
cent of teachers actually teach the subject. 
(2) According to a 2016 survey, 1 in 3 States 
require high school students to take a personal fi-
nance course, and only 5 States require high school 
students to take a semester long personal finance 
course. 
(3) The percentage of Americans grading them-
selves with an A or B in personal finance knowledge 
has declined from 60 percent in 2013 to 56 percent 
in 2016. In 2016, 75 percent of Americans admitted 
they could benefit from additional advice and an-
swers to everyday financial questions from a profes-
sional. Most adults feel that their financial literacy 
skills are inadequate, yet they do not rely on anyone 
else to handle their finances; they feel it is impor-
tant to know more but have received no financial 
education. 
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(4) It is necessary to respond immediately to 
the pressing needs of individuals faced with the loss 
of their financial stability; however increased atten-
tion must also be paid to financial literacy education 
reform and long-term solutions to prevent future 
personal financial disasters. 
(5) Research-based financial literacy education 
programs are needed to reach individuals at all ages 
and socioeconomic levels, particularly those facing 
unique and challenging financial situations, such as 
high school graduates entering the workforce, soon- 
to-be and recent college graduates, young families, 
and to address the unique needs of military per-
sonnel and their families. 
(6) High school and college students who are 
exposed to cumulative financial education show an 
increase in financial knowledge, which in turn drives 
increasingly responsible behavior as they become 
young adults. 
(7) Sixty percent of parents identify their teens 
as ‘‘quick spenders’’, and most acknowledge they 
could do a better job of teaching and preparing kids 
for the financial challenges of adulthood, including 
budgeting, saving, and investing. 
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