arrow_back Back to App

Financial Access: Government Resources in Top 8 Spoken Languages

This law aims to remove language barriers hindering access to essential financial knowledge. It mandates the Financial Literacy and Education Commission to provide its website and hotline in at least eight of the most commonly spoken languages, helping millions of citizens understand credit, savings, and homebuying. It also requires a study on how language barriers specifically impact credit scores and the cost of borrowing.
Key points
Government financial information (website and hotline) must be available in the 8 most commonly spoken languages, significantly boosting financial literacy access for non-English speakers.
A mandatory study will analyze how limited English proficiency affects credit scores, borrowing costs, and the ability to purchase a home.
Federal agencies must coordinate efforts to ensure all their financial education resources are also available in these 8 languages.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_4248
Sponsor: Sen. Butler, Laphonza R. [D-CA]
Process start date: 2024-05-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Multilingual Financial Literacy Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4248.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-02.

What are the main provisions?

Key points include:

  • Government financial information (website and hotline) must be available in the 8 most commonly spoken languages, significantly boosting financial literacy access for non-English speakers.
  • A mandatory study will analyze how limited English proficiency affects credit scores, borrowing costs, and the ability to purchase a home.
  • Federal agencies must coordinate efforts to ensure all their financial education resources are also available in these 8 languages.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Butler, Laphonza R. [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Education Migration