H.R.2840 - National Financial Literacy Act of 2007110th Congress (2007-2008)
|Sponsor:||Rep. Johnson, Eddie Bernice [D-TX-30] (Introduced 06/22/2007)|
|Committees:||House - Financial Services|
|Latest Action:||07/17/2007 Referred to the Subcommittee on Financial Institutions and Consumer Credit. (All Actions)|
This bill has the status Introduced
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.2840 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (06/22/2007)
National Financial Literacy Act of 2007 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.
Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs.