There is a growing consensus that too many Americans lack the basic financial literacy skills to enable them to navigate our increasingly complex financial system, make informed financial decisions, and avoid abusive financial products and services. Studies consistently show that a significant number of Americans have inadequate knowledge about concepts related to personal finance and basic economics including budgeting, managing credit use and debt problems, reading and understanding credit reports, understanding the terms of a mortgage or vehicle loan, using and maintaining a checking account, and understanding the importance of saving for retirement.
The goal of the Financial and Economic Literacy Caucus is to improve the financial literacy and economic education of all individuals across the United States during all stages of their lives. The Caucus reviews, discusses and recommends financial and economic literacy policies, legislation, programs and related matters at the federal, state and local levels and collaborates with the private sector, nonprofits, community-based organizations and faith based groups.
- Financial Literacy Day on the Hill, coordinated with the Jump$tart Coalition, the Council for Economic Education, and Junior Achievement USA , celebrating April as Financial Literacy Month
- National Consumer Protection Week, in conjunction with the Federal Trade Commission
- America Saves Week
- Military Consumer Protection Day, in conjunction with the Federal Trade Commission
- FINRA Foundation's Wall Street Game Capitol Hill Challenge
Co-Chairs Rep. Beatty and Rep. Stivers introduced the Housing Financial Literacy Act of 2017, aimed at increasing first-time homebuyers financial knowledge
The Caucus also sponsors the annual resolutions from the House of Respresentatives declaring Financial Literacy Month (April):