§ 9702. Establishment of Financial Literacy and Education Commission

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2003

   Financial Literacy and Education Improvement Act

   Pub. L. 108–159 title V § 513 · 117 Stat. 1952

   Enacted · 20 U.S.C. § 9702

   Pub. L. 108–159, title V, § 513, Dec. 4, 2003, 117 Stat. 2003

   Source evidence

   Code source credit
   Pub. L. 108–159, title V, § 513, Dec. 4, 2003, 117 Stat. 2003

   Enacted provision · exact public law section
   SEC. 513. ESTABLISHMENT OF FINANCIAL LITERACY AND EDUCATION COMMISSION. (a) In General.— There is established a commission to be known as the “Financial Literacy and Education Commission”. (b) Purpose.— The Commission shall serve to improve the financial literacy and education of persons in the United States through development of a national strategy to promote financial literacy and education. (c) Membership.— (1) Composition.— The Commission shall be composed of— (A) the Secretary of the Treasury; (B) the respective head of each of the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act), the National Credit Union Administration, the Securities and Exchange Commission, each of the Departments of Education, Agriculture, Defense, Health and Human Services, Housing and Urban Development, Labor, and Veterans Affairs, the Federal Trade Commission, the General Services Administration, the Small Business Administration, the Social Security Administration, the Commodity Futures Trading Commission, and the Office of Personnel Management; and (C) President. at the discretion of the President, not more than 5 individuals appointed by the President from among the administrative heads of any other Federal agencies, departments, or other Federal Government entities, whom the President determines to be engaged in a serious effort to improve financial literacy and education. (2) Alternates.— Each member of the Commission may designate an alternate if the member is unable to attend a meeting of the Commission. Such alternate shall be an individual who exercises significant decisionmaking authority. (d) Chairperson.— The Secretary of the Treasury shall serve as the Chairperson. (e) Meetings.— The Commission shall hold, at the call of the Chairperson, at least 1 meeting every 4 months. All such meetings shall be open to the public. The Commission may hold, at the call of the Chairperson, such other meetings as the Chairperson sees fit to carry out this title. (f) Quorum.— A majority of the members of the Commission shall constitute a quorum, but a lesser number of members may hold hearings. (g) Initial Meeting.— The Deadline. Commission shall hold its first meeting not later than 60 days after the date of enactment of this Act.

2. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1013(d)(5) · 124 Stat. 1376

   1. Added · 20 U.S.C. § 9702(c)(1)(C); 20 U.S.C. § 9702(c)(1)(D)

      Pub. L. 111–203, § 1013(d)(5), added subpar. (C)

   2. Redesignated · 20 U.S.C. § 9702(c)(1)(C); 20 U.S.C. § 9702(c)(1)(D)

      Pub. L. 111–203, § 1013(d)(5), redesignated former subpar. (C) as (D)

   Source evidence

   Code amendment note
   Subsec. (c)(1)(C), (D). Pub. L. 111–203, § 1013(d)(5), added subpar. (C) and redesignated former subpar. (C) as (D).

   Enacted provision · exact public law section
   (5) Membership in financial literacy and education commission.— Section 513(c)(1) of the Financial Literacy and Education Improvement Act (20 U.S.C. 9702(c)(1)) is amended— (A) in subparagraph (B), by striking “and” at the end; (B) by redesignating subparagraph (C) as subparagraph (D); and (C) by inserting after subparagraph (B) the following new subparagraph: “(C) the Director of the Bureau of Consumer Financial Protection; and” .

3. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1013(d)(6) · 124 Stat. 1376

   Inserted · 20 U.S.C. § 9702(d)

   Pub. L. 111–203, § 1013(d)(6), inserted at end “The Director of the Bureau of Consumer Financial Protection shall serve as the Vice Chairman.”

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 111–203, § 1013(d)(6), inserted at end “The Director of the Bureau of Consumer Financial Protection shall serve as the Vice Chairman.”

   Enacted provision · exact public law section
   (6) Conforming amendment.— Section 513(d) of the Financial Literacy and Education Improvement Act (20 U.S.C. 9702(d)) is amended by adding at the end the following: “The Director of the Bureau of Consumer Financial Protection shall serve as the Vice Chairman.”.

4 of 4 references resolved to an enrolled provision