Improving Access to Financial Coaching Act of 2026
Financial Coaching: New Grants for Personal Finance Help
This bill was recently introduced and is currently being reviewed by the House Committee on Financial Services. It is in the early stages of the legislative process and is considered active. There are no upcoming votes or hearings scheduled at this time.
Legislative Progress
This bill is a new spending proposal with only Democratic sponsors. It faces a difficult path in a divided Congress where new social programs are often blocked.
Key Points
- This bill would create a new program within the Treasury Department to give grants to local nonprofits and community groups. These groups would use the money to provide free or low-cost financial coaching to people who need help managing their money.
- Financial coaches help people create budgets, pay down debt, improve their credit scores, and start saving for the future. This program focuses on helping families with low or moderate incomes, especially in rural areas or minority communities.
- The bill sets aside $100 million over three years for these grants. Most of the money goes directly to the groups helping people, while some is used to help smaller organizations set up their own coaching programs.
- The Treasury Department would also work on creating official standards for financial coaches. This ensures that when you talk to a coach, you are getting advice from someone who is properly trained and follows the same rules as other professionals.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Improving Access to Financial Coaching Act of 2026
Data Sources
Sponsor
Cosponsors
(5)Analysis generated by AI. Always verify with official sources.