[Congressional Record (Bound Edition), Volume 156 (2010), Part 12] [Extensions of Remarks] [Pages 17419-17420] [From the U.S. Government Publishing Office, www.gpo.gov]H.R. 6193, THE FOSTER YOUTH FINANCIAL SECURITY ACT ______ HON. JAMES R. LANGEVIN of rhode island in the house of representatives Wednesday, September 29, 2010 Mr. LANGEVIN. Madam Speaker, last week I introduced H.R. 6193, the Foster Youth Financial Security Act. This legislation will prepare foster youth who are transitioning to adulthood to properly manage their finances and provide greater protections of their financial information while they are under the care of the state. Foster children are disproportionately victims of identity theft because their personal information passes through many hands, increasing the chances that someone will open an account in their name or use their Social Security Number (SSN). This bill would require that all foster children have their credit reports reviewed, and cleared if there is an inaccuracy, prior to leaving care. It would also end the use of a child's SSN as an identifier. Currently, there is no available data on how many children have been affected by identity theft; this legislation will track the number of stolen identities by state. The bill allows the states to obtain assistance from both the Department of Health and Human Services and the Federal Trade Commission on how best to protect their foster youth. This legislation will also strengthen the financial security of foster youth and empower them to make responsible financial decisions as adults. Research shows that current and for former foster youth are more likely to forego higher education, be in poor health, become homeless, and rely on public supports as adults. This legislation would provide resources for a successful transition to adulthood by helping foster youth obtain a driver's license or state identification card, obtain auto insurance, open a bank account, and apply for student loans. This bill would also help foster youth determine if they are eligible for federal or state benefits and provide them with information on accessing health care and safe and [[Page 17420]] affordable housing. Financial literacy classes would be available for foster children and their foster parents. The Foster Youth Financial Security Act also provides seed money for each state to set up Individual Development Accounts for foster youth so they leave care with a nest egg to pay for housing, education, and job training. This bill would provide $45 million for the states to carry out the above initiatives and an additional $5 million for technical assistance. I would like to thank my colleague, Congressman Stark, for joining me on this bill, as well as introducing H.R. 6192, the Foster Children Self Support Act, of which I'm a proud original cosponsor. These bills will provide foster youth with the tools they need and deserve to become successful adults. ____________________