H. Res. 1257 
In the House of Representatives, U. S., 
April 20, 2010. 
Whereas personal financial literacy is essential to ensure that 
individuals are prepared to make informed financial 
choices so that they can become successful heads of 
households, investors, entrepreneurs, and business lead-
ers; 
Whereas financially informed individuals are better able to 
take control of their circumstances, improve their quality 
of life, and plan for their financial future; 
Whereas personal financial management skills and lifelong 
habits begin to develop during childhood, making it all 
the more important to support youth financial education; 
Whereas financial education is the first line of defense 
against financial fraud; 
Whereas the results of the National Foundation for Credit 
Counseling’s fourth annual Consumer Financial Literacy 
Survey suggest that while many United States adults are 
improving how they manage their money, and more con-
sumers now have a budget and nonretirement savings, 
many Americans continue to struggle with their finances, 
especially young adults and minorities; 
Whereas the Federal Deposit Insurance Corporation’s ‘‘Na-
tional Survey of Unbanked and Underbanked House-
•HRES 1257 EH 
holds, December 2009’’ found that approximately 
60,000,000 people in the United States are either 
unbanked or underbanked; 
Whereas almost 54 percent of Black households, 44.5 percent 
of American Indian/Alaskan households, and 43.3 percent 
of Hispanic households are either unbanked or under-
banked; 
Whereas personal saving as a percentage of disposable per-
sonal income was 3.1 percent in February 2010, com-
pared with 3.4 percent in January 2010, and a reduction 
from a 12-month average of 4.1 percent in 2009, accord-
ing to the Bureau of Economic Analysis; 
Whereas public, community-based, and private-sector organi-
zations throughout the United States are working to in-
crease financial literacy rates for Americans of all ages 
and walks of life through a range of outreach efforts, in-
cluding media campaigns, Web sites, and one-on-one fi-
nancial counseling for individuals; 
Whereas the National Endowment for Financial Education 
provides consumers with the tools necessary to manage 
their money wisely and empower them to turn their fi-
nancial education into action; 
Whereas bankers across the United States will teach savings 
skills to young people on April 27, 2010, during ‘‘Teach 
Children to Save Day’’, which was launched by the Amer-
ican Bankers Association Education Foundation in April 
1997 and has now helped more than 80,000 bankers 
teach savings skills to more than 3,200,000 young people; 
Whereas staff from America’s credit unions will focus on the 
financial needs of young people, provide financial literacy 
education, and teach youth under the age of 18 the bene-
•HRES 1257 EH 
fits of saving and goal setting during ‘‘National Credit 
Union Youth Week’’, April 18–24, 2010; 
Whereas more than 100 Federal agencies have collaborated 
on a Web site, www.consumer.gov, which helps consumers 
shop for a mortgage or auto loan, understand and rec-
oncile credit card statements and utility bills, choose sav-
ings and retirement plans, compare health insurance poli-
cies, and understand their credit report and how it af-
fects their ability to get credit and on what terms; 
Whereas Members of the United States House of Representa-
tives established the Financial and Economic Literacy 
Caucus in February 2005 to provide a forum for inter-
ested Members of Congress to review, discuss and rec-
ommend financial and economic literacy policies, legisla-
tion, and programs; to collaborate with the private sector, 
and nonprofit and community-based organizations; and to 
organize and promote financial literacy resolutions, legis-
lation, seminars, and events, such as ‘‘Financial Literacy 
Month’’ in April 2010, and the annual ‘‘Financial Lit-
eracy Day Fair’’ on April 27, 2010; and 
Whereas the Council for Economic Education, its State 
Councils and Centers for Economic Education, the 
Jump$tart Coalition for Personal Financial Literacy, its 
State affiliates, and its partner organizations, and JA 
Worldwide have designated April as Financial Literacy 
Month to educate the public about the need for increased 
financial literacy for youth and adults in the United 
States: Now, therefore, be it 
Resolved, That the House of Representatives—
•HRES 1257 EH 
(1) supports the goals and ideals of Financial Lit-
eracy Month, including raising public awareness about 
financial education; 
(2) recognizes the importance of managing personal 
finances, increasing personal savings, and reducing per-
sonal debt in the United States; and 
(3) requests that the President issue a proclamation 
calling on the Federal Government, States, localities, 
schools, nonprofit organizations, businesses, other enti-
ties, and the people of the United States to observe the 
month with appropriate programs and activities with the 
goal of increasing financial literacy rates for individuals 
of all ages and walks of life. 
Attest: 
Clerk.