Sec. 2. Study on the impact of language barriers to financial health
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The Financial Literacy and Education Commission shall carry out a study on the impact of language barriers on financial health, including an analysis of, with respect to groups with limited English proficiency, access to financial literacy education and training, credit score outcomes, the cost of credit, and homebuying. In carrying out the study required under subsection (a), the Financial Literacy and Education Commission shall consult with each agency represented in the membership of the Commission.
Not later than 180 days after the date of enactment of this Act, the Financial Literacy and Education Commission shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report— containing all findings and determinations made in carrying out the study required under subsection (a); and analyzing the need for language accessibility across the financial services industry, including an identification of— any industry in which information is provided solely in 1 language; and any product, service, or other financial offering for which the availability of information is limited beyond English.