[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.

                          ____________________