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H.R. 6350 (116th): Financial Literacy Education Commission Emergency Response Act


The text of the bill below is as of Mar 23, 2020 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

2d Session

H. R. 6350

IN THE HOUSE OF REPRESENTATIVES

March 23, 2020

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.