H.Res. 1238

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1238 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. RES. 1238

Encouraging greater public-private sector collaboration to promote 
financial literacy for students and young adults.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

April 30, 2026

Mr. Foster (for himself, Ms. Velazquez, Mrs. Beatty, and Ms. Bynum) 
submitted the following resolution; which was referred to the Committee 
on Financial Services

_______________________________________________________________________

RESOLUTION

Encouraging greater public-private sector collaboration to promote 
financial literacy for students and young adults.

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 many young people are ill-equipped to handle major financial decisions 
in an increasingly complex financial marketplace;
Whereas personal financial management skills begin to develop during childhood;
Whereas, according to the report of the Girl Scout Research Institute entitled 
``Having It All: Girls and Financial Literacy'', 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 education, 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 school students to take some type of economics course and 39 States 
require a personal finance 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 Bureau of Consumer Financial Protection was created to educate 
consumers and help consumers make better-informed financial decisions by 
helping make the financial markets safer for consumers, increasing 
transparency to enable individuals to compare products and make informed 
decisions, and promoting policies that help consumers improve their 
financial knowledge and capability;
Whereas the Bureau's 2024 Financial Literacy Annual Report included a number of 
recommendations to improve financial literacy for students;
Whereas the Bureau's Money as You Grow initiative provides age-appropriate 
financial lesson plans for educators to show how personal finance can 
provide appropriate context and content for mathematics and English 
language arts teaching;
Whereas section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection 
Act (12 U.S.C. 5452) directs the Federal financial regulatory agencies 
to partner with high schools in targeted areas to help promote financial 
literacy and to create ``industry internships, summer employment, and 
full-time positions'' for talented minorities and women;
Whereas the National Financial Capability Study, developed in consultation with 
the Department of the Treasury and former President Barack Obama's 
Advisory Council on Financial Capability, continues to update 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; and
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''': Now, therefore, be it
Resolved, That the House of Representatives--
(1) emphasizes the importance of raising awareness of 
individual financial capability by providing relevant 
information, financial workshops, and other decision making 
tools to consumers of all ages;
(2) reaffirms the purposes of section 342 of the Dodd-Frank 
Act (12 U.S.C. 5452), which directs Federal financial agencies 
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 positions;
(3) supports the efforts of the Bureau of Consumer Finance 
Protection to provide consumers with relevant information and 
decision making tools regarding important financial decisions; 
and
(4) urges the Department of the Treasury to consult with 
the Financial Industry Regulatory Authority and implement 
future national financial capability studies.
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