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J4428Senate2017-2018 SessionResolution

Declare April Financial Literacy Month

Official title

“Memorializing Governor Andrew M. Cuomo to proclaim April 2018, as Financial Literacy Month in the State of New York”

Sponsor Leroy ComrieSD-14+2 co-sponsors
Status
Adopted
Impact
1/10
Minimal
Outcome
Adopted

What's happening

This resolution urges Governor Cuomo to declare April 2018 as Financial Literacy Month in New York State to promote financial education.

Why it matters

  1. Highlights the urgent need for financial education. by citing high levels of household debt and the fact that a majority of Americans live paycheck to paycheck, suggesting that many individuals lack the tools to make informed financial decisions.

  2. Emphasizes that financial literacy is linked to personal and economic empowerment. , enabling people to manage money more effectively, avoid costly financial mistakes, and build wealth—skills that are increasingly important in today’s complex economy.

  3. Points to the broader societal benefits. of financial literacy, such as fostering responsible citizens, business leaders, and entrepreneurs, and argues that improved financial knowledge can drive economic growth and stability across New York State.

  4. Calls for collaboration between government and private sectors. to leverage technology and expand access to financial education, signaling that addressing financial literacy is a collective responsibility that could have wide-reaching impact.

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Headline styles

Declare April Financial Literacy Month

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Leroy Comrie

Senator · Senate District 14

History

  1. Adopted
  2. Reported to calendar for consideration
  3. Referred to finance

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

Senate Resolution No. 4428 BY: Senator COMRIE MEMORIALIZING Governor Andrew M. Cuomo to proclaim April 2018, as Financial Literacy Month in the State of New York WHEREAS, The State of New York takes great pride in acknowledging months in recognition of… Show all

Senate Resolution No. 4428 BY: Senator COMRIE MEMORIALIZING Governor Andrew M. Cuomo to proclaim April 2018, as Financial Literacy Month in the State of New York WHEREAS, The State of New York takes great pride in acknowledging months in recognition of important issues; and WHEREAS, Financial Literacy Month will be celebrated during the month of April 2018; and WHEREAS, Personal financial literacy ensures that individuals are prepared to manage money, credit, and debt; it also helps them become responsible workers, heads of households, investors, entrepreneurs, business leaders, and citizens; and WHEREAS, In 2017, the United States household consumer debt profile was: average credit card debt: $15,654; average mortgage debt: $173,995; and average student loan: $46,597; and WHEREAS, In total, American consumers debt totaled nearly $12.96 trillion; and WHEREAS, Credit card debt is the third largest source of household indebtedness; mortgage and student loans debt markets are larger; and WHEREAS, Sixty-two percent of all Americans are living paycheck to paycheck; and WHEREAS, Expanding access to these mainstream financial institutions will provide individuals with less expensive and more secure options for managing their finances and building wealth; and WHEREAS, Increased financial literacy empowers individuals to make wise decisions and reduces the confusion caused by the increasingly complex economy; and WHEREAS, Because of the present financial crisis, there is a need for further support through government and private partnerships that can provide efficient use of resources to leverage technology advancements to reach additional consumers; and WHEREAS, A greater understanding of, and familiarity with financial markets and institutions will lead to increased economic activity and growth; now, therefore, be it RESOLVED, That this Legislative Body pause in its deliberation to memorialize Governor Andrew M. Cuomo to proclaim April 2018, as Financial Literacy Month in the State of New York; and be it further RESOLVED, That a copy of this Resolution, suitably engrossed, be transmitted to The Honorable Andrew M. Cuomo, Governor of the State of New York.

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.