WASHINGTON-The Senate appears to be boning up on its financial education legislation for the session. Earlier this month, three bills concerning adult and youth financial literacy were introduced. The TANF (Temporary Assistance for Needy Families) Financial Education Promotion Act (S. 923) was introduced by a group of Democratic Senators. It would amend the Social Security Act to require the states to promote financial education under the TANF program and allow financial education to count as work activity under the program. S. 924, the Education for Retirement Security Act, would provide grants to boost financial and retirement literacy among middle-aged and older Americans. It also aims to reduce financial abuse and fraud among this age group. Legislation to promote youth financial literacy, S. 925, was also introduced to provide grants and encourage financial education in K-12 grades.
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