Financial Literacy Education Commission Emergency Response Act

Bill: 116-hr-6350
Sponsor: full_name: Rep. Gonzalez, Vicente [D-TX-15]
Introduced: 2020-03-23
Policy area: Finance and Financial Sector
Subjects: Advisory bodies

Cardiovascular and respiratory health

Congressional oversight

Disability and paralysis

Disaster relief and insurance

Economic performance and conditions

Emergency medical services and trauma care

Financial literacy

Government information and archives

Infectious and parasitic diseases

Minority health

Sex, gender, sexual orientation discrimination

Veterans' medical care

Women's health
Latest action: action_date: 2020-03-23
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2020-03-23
action_desc: Introduced in House
text: <p><b>Financial Literacy Education Commission Emergency Response Act </b></p> <p>This bill requires the Financial Literacy and Education Commission in the Department of the Treasury to convene a special meeting related to the financial impacts of the COVID-19 (i.e., coronavirus disease 2019) emergency. The commission must provide on its website resources to help individuals recover from financial hardships related to the COVID-19 emergency. </p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6350 IN THE HOUSE OF REPRESENTATIVES March 23, 2020 Mr. Gonzalez of Texas introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Financial Literacy and Education Commission to convene a special meeting with respect to the COVID–19 emergency, to update the Commission’s website with tools to help individuals recover from any financial hardship as a result of the COVID–19 emergency, and for other purposes.

1. Short title This Act may be cited as the Financial Literacy Education Commission Emergency Response Act . 2. Purpose The purpose of this Act is to provide financial literacy education, including information on access to banking services and other financial products, for individuals seeking information and resources as they recover from any financial distress caused by the coronavirus disease (COVID–19) outbreak and future major disasters. 3. Financial Literacy and Education Commission response to the COVID–19 emergency (a) Special meeting Not later than the end of the 60-day period beginning on the date of enactment of this Act, the Financial Literacy and Education Commission (the Commission ) shall convene a special meeting to discuss and plan assistance related to the financial impacts of the COVID–19 emergency. (b) Update of the Commission’s website (1) In general Not later than the end of the 60-day period beginning on the date of enactment of this Act, the Commission shall update the website of the Commission with a full list of tools to help individuals recover from any financial hardship as a result of the COVID–19 emergency. (2) Specific requirements In performing the update required under paragraph (1), the Commission shall— (A) place special emphasis on providing an additional set of tools geared towards women, racial and ethnic minorities, veterans, disabled, and LGBTQ+ communities; and (B) provide information in English and Spanish. (3) Information from members Not later than the end of the 60-day period beginning on the date of enactment of this Act, each Federal department or agency that is a member of the Commission shall provide an update on the website of the Commission disclosing any tools that the department or agency is offering to individuals or to employees of the department or agency related to the COVID–19 emergency. (c) Implementation report to Congress The Secretary of the Treasury and the Director of the Bureau of Consumer Financial Protection shall, jointly and not later than the end of the 30-day period following the date on which the meeting required under subsection (a) is held and all updates required under subsection (b) have been completed, report to Congress on the implementation of this Act. (d) COVID–19 emergency defined In this section, the term COVID-19 emergency means the emergency declared on March 13, 2020, by the President under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 4121 et seq.) relating to the Coronavirus Disease 2019 (COVID-19) pandemic.