Multilingual Financial Literacy Act

This bill requires the Financial Literacy and Education Commission to study how language barriers affect financial health for people with limited English proficiency, including access to education, credit outcomes, and homebuying. It mandates that the Commission’s website and toll-free phone line provide resources in the 8 most commonly spoken U.S. languages (per Census data), with the Treasury Department providing translation services. The Commission must also submit annual reports analyzing financial literacy needs across demographic groups and propose solutions for language-related barriers. These provisions directly affect communities with limited English proficiency and federal agencies providing financial resources.