,,iii  #aacth ,,congress  #ast ,session 
,s4 ,,res4 #aje  ,,in ,,the ,,senate    
,,of ,,the ,,united ,,states  ,april    
#bc1 #bjac ,mr4 ,reed 7for himself1 ,mr4
 ,enzi1 ,mr4 ,merkley1 ,mr4 ,crapo1 ,mr4
 ,johnson of ,south ,dakota1 ,mr4       
,barrasso1 ,mrs4 ,murray1 ,mr4 ,cochran1
 ,mr4 ,cardin1 ,mr4 ,wicker1 ,mrs4      
,hagan1 ,mr4 ,blunt1 ,mr4 ,durbin1 ,ms4 
,warren1 ,mr4 ,franken1 ,mr4 ,coons1    
,mr4 ,baucus1 ,mr4 ,johnson of          
,wisconsin1 ,mr4 ,brown1 ,mr4           
,lautenberg1 ,mr4 ,warner1 and ,ms4     
,landrieu7 submitted the following      
resolution2 which was considered and    
agreed to  ,,resolution  ,designating   
,april #bjac as ,financial ,literacy    
,month4  ,whereas1 according to the     
,federal ,deposit ,insurance            
,corporation 7referred to in this       
preamble as the ,,fdic71 at least #bh4c 
percent of households in the ,united    
,states1 or nearly #cd1jjj1jjj          
households with approximately           
#fg1hhh1jjj adults1 are unbanked or     

underbanked and therefore have not had  
the opportunity to access savings1      
lending1 and other basic financial      
services2 ,whereas1 according to the    
,,fdic1 approximately #cj percent of    
banks reported in #bjaa that consumers  
lacked understanding of the financial   
products and services banks offered2    
,whereas1 according to the #bjab        
,consumer ,financial ,literacy ,survey  
,final ,report of the ,national         
,foundation for ,credit ,counseling--   
7#a7 approximately #db percent of1 or   
nearly #ih1jjj1jjj1 adults in the       
,united ,states gave themselves a grade 
of ,c1 ,d1 or ,f on their knowledge of  
personal finance1 and #d out of every #e
 adults admitted that they could benefit
 from additional advice and answers to  
everyday financial questions from a     
professional2  7#b7 the number of adults
 in the ,united ,states who admit to not
 paying their bills on time has         
increased from #bh percent in #bjaa to  
#cc percent1 or nearly #gg1jjj1jjj1 in  

#bjab2  7#c7 only #dc percent of adults 
in the ,united ,states keep close track 
of their spending1 and more than        
#ac1jjj1jjj adults do not know how much 
they spend on food1 housing1 and        
entertainment1 and do not monitor their 
overall spending2 and  7#d7 #b out of   
every #e adults in the ,united ,states1 
or more than #ic1jjj1jjj1 are saving    
less than they did in #bjaa1 and        
approximately #ci percent of adults     
report that they have no non-retirement 
savings2  ,whereas the #bjab ,retirement
 ,confidence ,survey conducted by the   
,employee ,benefit ,research ,institute 
found that--  7#a7 only #ad percent of  
workers were very confident about having
 enough money for a comfortable         
retirement1 which is a sharp decline in 
worker confidence from the #bg percent  
of workers who were very confident in   
#bjjg2 and  7#b7 approximately #ef      
percent of workers say they or their    
spouses have not calculated the amount  
of money they need to save for          

retirement2  ,whereas1 according to a   
#bjab ,flow of ,funds report by the     
,board of ,governors of the ,federal    
,reserve ,system1 aggregate household   
debt in the ,united ,states was         
#ab1hjj1jjj1jjj at the end of the fourth
 quarter of #bjab2 ,whereas1 according  
to the ,survey of the ,states #bjaa3    
,economic1 ,personal ,finance1 and      
,entrepreneurship ,education in ,our    
,nation's ,schools1 a biennial report by
 the ,council for ,economic ,education--
  7#a7 only #bb ,states require students
 to take an economics course as a high  
school graduation requirement2  7#b7    
only #af ,states require testing student
 knowledge of economics2 and  7#c7 only 
#ab ,states require students to take a  
personal finance course either          
independently or as part of an economics
 course as a high school graduation     
requirement2  ,whereas1 according to the
 ,gallup-,operation ,,hope ,financial   
,literacy ,index1 only #ed percent of   
students in the ,united ,states have    

money in a bank or credit union account2
 ,whereas expanding access to the       
mainstream financial system will provide
 individuals with less expensive and    
more secure options for managing        
finances and building wealth2 ,whereas  
quality personal financial education is 
essential to ensure that individuals are
 prepared to manage money1 credit1 and  
debt1 and to become responsible workers1
 heads of household1 investors1         
entrepreneurs1 business leaders1 and    
citizens2 ,whereas increased financial  
literacy empowers individuals to make   
wise financial decisions and reduces the
 confusion caused by an increasingly    
complex economy2 ,whereas a greater     
understanding of1 and familiarity with1 
financial markets and institutions will 
lead to increased economic activity and 
growth2 ,whereas1 in #bjjc1 ,congress   
determined that coordinating ,federal   
financial literacy efforts and          
formulating a national strategy is      
important2 and ,whereas1 in light of    

that determination1 ,congress passed the
 ,financial ,literacy and ,education    
,improvement ,act 7#bj ,u4,s4,c4 #igja  
et seq471 establishing the ,financial   
,literacy and ,education ,commission3   
,now1 therefore1 be it  ,that the       
,senate--  7#a7 designates ,april #bjac 
as ,financial ,literacy ,month to raise 
public awareness about--  7,a7 the      
importance of personal financial        
education in the ,united ,states2 and   
7,b7 the serious consequences that may  
result from a lack of understanding     
about personal finances2 and  7#b7 calls
 on the ,federal ,government1 ,states1  
localities1 schools1 nonprofit          
organizations1 businesses1 and the      
people of the ,united ,states to observe
 ,financial ,literacy ,month with       
appropriate programs and activities4