H.R. 2840 would amend the Community Reinvestment Act of 1977 to allow the direct support by a financial institution of a qualified community-based financial literacy program provided to consumers and borrowers to be taken into account in assessing the institution's record of meeting the credit needs of its entire community.

== Detailed Summary ==

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(LogNational Financial Literacy Act of 2007 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to edit the wiki and be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the firstinstitution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.

Authorizes a federal financial supervisory agency to providetake an institution's direct support of a detailed summaryqualified community-based financial literacy program into account when it assesses the institution's record of meeting the bill!)community's credit needs.
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== Status of the Legislation ==

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(Log inLatest Major Action: 7/17/2007: Referred to House subcommittee. Status: Referred to edit the wikiSubcommittee on Financial Institutions and be the first to update the status of the bill!)Consumer Credit.
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== Points in Favor ==

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== Points Against ==

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