,,iii  #aacth ,,congress  #b;d ,session 
,s4 ,,res4 #dbc  ,,in ,,the ,,senate    
,,of ,,the ,,united ,,states  ,april    
#aa1 #bjad ,mr4 ,reed 7for himself1 ,mr4
 ,enzi1 ,mrs4 ,murray1 ,mr4 ,barrasso1  
,mr4 ,coons1 ,mr4 ,crapo1 ,mr4 ,durbin1 
,mr4 ,blunt1 ,ms4 ,heitkamp1 ,mr4       
,wicker1 ,mr4 ,merkley1 ,mr4 ,cochran1  
,mr4 ,warner1 ,mr4 ,begich1 ,mr4        
,carper1 ,mr4 ,king1 ,mrs4 ,hagan1 ,mr4 
,johnson of ,wisconsin1 and ,mr4        
,cardin7 submitted the following        
resolution2 which was considered and    
agreed to  ,,resolution  ,designating   
,april #bjad as ,financial ,literacy    
,month4  ,whereas 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  ,whereas according to the    
,,fdic1 approximately #cj percent of    
banks reported in #bjaa that consumers  
lacked understanding of the financial   
products and services banks offered2    
,whereas according to the #bjac         
,consumer ,financial ,literacy ,survey  
,final ,report of the ,national         
,foundation for ,credit ,counseling--   
7#a7 approximately #dj percent of adults
 in the ,united ,states gave themselves 
a grade of ,c1 ,d1 or ,f on their       
knowledge of personal finance1 and #gh  
percent of adults acknowledged that they
 could benefit from additional advice   
and answers to everyday financial       
questions from a professional2  7#b7 #bf
 percent of adults in the ,united       
,states1 or approximately #fa1jjj1jjj   
individuals1 admitted to not paying     
their bills on time2  7#c7 only #dj     
percent of adults in the ,united ,states
 reported keeping close track of their  
spending1 a percentage that has held    

steady since #bjjg2 and  7#d7 more than 
#dj percent of adults in the ,united    
,states1 or over #ajj1jjj1jjj           
individuals1 said not having enough     
rainy day savings for an emergency is   
their greatest financial concern1 while 
a slightly lower percentage said that   
their greatest financial concern is not 
having enough money set aside for       
retirement2  ,whereas the #bjac         
,retirement ,confidence ,survey         
conducted by the ,employee ,benefit     
,research ,institute found that only #ac
 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 #bjjg1 while approximately 
#ed percent of workers say they or their
 spouses have not calculated the amount 
of money they need to save for          
retirement2 ,whereas according to a     
#bjad ,flow of ,funds report by the     
,board of ,governors of the ,federal    

,reserve ,system1 outstanding household 
debt in the ,united ,states was         
#ac1ajj1jjj1jjj1jjj at the end of the   
fourth quarter of #bjac2  ,whereas      
according to the #bjad ,survey of the   
,states3 ,economic and ,personal        
,finance ,education in ,our ,nation's   
,schools1 a biennial report by the      
,council for ,economic ,education--     
7#a7 only #bd ,states require students  
to take an economics course as a high   
school graduation requirement2  7#b7    
only #bb ,states require testing student
 knowledge of economics2 and  7#c7 only 
#ag ,states require students to take a  
personal finance course either          
independently or as part of an economics
 course as a high school graduation     
requirement2  ,whereas according to the 
,gallup-,operation ,,hope ,financial    
,literacy ,index1 only #eb4c percent of 
students in the ,united ,states have    
money in a bank or credit union account2
  ,whereas expanding access to the safe1
 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  ,whereas in #bjjc1 ,congress   
determined that coordinating ,federal   
financial literacy efforts and          
formulating a national strategy is      
important2 and  ,whereas 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 #bjad 
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