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Congresswoman Joyce Beatty

Representing the 3rd District of Ohio

Congresswoman Beatty Celebrates Financial Literacy Month

Apr 2, 2018
Announcements

Congresswoman Beatty Celebrates Financial Literacy Month

Beatty serves as co-chair of the Financial and Economic Literacy Caucus for the 115th Congress

April is Financial Literacy Month, a month-long initiative to raise awareness on the importance of financial literacy and to provide tools and resources to help Americans of all ages develop and maintain healthy financial habits. As co-chair of the Financial and Economic Literacy Caucus, U.S. Congresswoman Joyce Beatty (OH-03) issued the following statement in recognition of Financial Literacy Month:    

“Whether it be getting your first job or purchasing your first car, going to college, buying and saving for a home, growing your family, preparing for retirement, or any of life’s important moments in between, it is imperative every American possesses the financial know-how to make sound financial decisions. That is why I will continue to lead the charge in Congress to ensure more Americans have the capability to build a brighter economic future for themselves and their family.”  

Coinciding with Financial Literacy Month, Congresswoman Beatty and fellow Financial and Economic Literacy Caucus Co-Chair Congressman Steve Stivers (OH-15) introduced a resolution in the U.S. House of Representatives, H.Res. 806, to officially recognize April as “Financial Literacy Month.” In addition, during the 115th Congress, Beatty introduced the Free Credit Score Act, H.R. 2262, a bill that would provide consumers their credit scores for free as calculated by the three major credit reporting agencies (Experian, Equifax, and TransUnion).

Also of note, Beatty and Stivers teamed up to introduce the Housing Financial Literacy Act, H.R. 851, and the Financial Literacy College Education Act, H.R. 5277. The Housing Financial Literacy Act would give first-time homebuyers who complete a Department of Housing and Urban Development (HUD)-certified housing counseling course a discount on their Federal Housing Administration (FHA) mortgage insurance premium of 25 basis points (or 0.25 percent). Modeled after similar housing counseling courses already being offered in Central Ohio, studies confirm that homebuyers who receive pre-purchase housing counseling are nearly one-third less likely to fall behind on their mortgage and thereby face a reduced risk of foreclosure. The Financial Literacy College Education Act would provide colleges, universities and other high institutions of learning with the tools and information to better empower their students to make informed financial decisions.

Throughout the month of April, Congresswoman Beatty will be promoting Financial Literacy Month, so please be sure to visit the Congresswoman’s Facebook and Twitter to see, hear and learn the latest. Also, do not forget to join the conversation online by using #FLM2018.