Sen. Paul R. Feeney filed a bill on Jan. 17, 2025, that would establish a centralized Massachusetts Financial Literacy and Longevity Hub and set up statewide structures to expand financial education for adults and high school students.

The bill, filed in the Senate as No. 752, directs the Office of Consumer Affairs and Business Regulation, the Executive Office of Economic Development and the Division of Banks to create an online hub that would provide financial education materials, personal-planning tools, lists of accreditable financial institutions and certified financial advisors searchable by ZIP code, resources on retirement planning and disability-related financial independence, and links to hotlines and regional education centers.

If enacted, the measure would also require creation of an Adult Financial Literacy Education Consortium appointed by the commissioner of the Department of Higher Education. The consortium would be 13 members representing education, banking, consumer protection, social work and other fields; specifically listed participants include the commissioner of the Division of Banks (or designee), the undersecretary of the Office of Consumer Affairs and Business Regulation (or designee), a representative of the Office of Economic Empowerment, the Massachusetts Bankers Association, the Cooperative Credit Union Association, Compass Working Capital, the Federal Reserve Bank of Boston, a Massachusetts community college or public university, a private institution of higher education, Certified Financial Advisors of Massachusetts and the Massachusetts chapter of the National Association of Insurance and Financial Advisors. The consortium is charged with recommending a universal adult financial-literacy curriculum, identifying priority populations and delivery methods, suggesting state programs that can provide programming (including the Massachusetts student loan program) and exploring incentives for course completion. The consortium must file findings and draft legislation with legislative clerks and the chairs of the Joint Committee on Financial Services within one year of the act's effective date.

The Department of Higher Education would be required to establish a universal adult financial-literacy curriculum based on the consortium's recommendations and to distribute that curriculum to institutions of higher education and service providers. The bill also calls for regional financial literacy centers across the commonwealth to provide access to the universal program and establishes a competitive grant program through the Department of Higher Education to fund programs at those centers free of charge.

Separately, the bill would create a special legislative commission under section 2A of chapter 4 of the General Laws to develop a statewide financial-literacy strategy. The commission would solicit public input and study topics including proposed adult financial-literacy standards (covering loans, interest, credit and investment basics, online commerce, homebuying and renting, taxes, fraud prevention, emerging financial technologies including cryptocurrencies, and other topics listed in the bill). The commission's report is due to the clerks of the House and Senate and the Joint Committee on Financial Services by Dec. 1, 2025.

For K'12 education, the bill directs the Department of Elementary and Secondary Education to adopt regulations requiring a guaranteed semester-long personal-finance class for students in 11th or 12th grade in all Massachusetts public high schools; the class must include an experiential learning component or project.

The text also instructs the Division of Banks and the Office of Consumer Affairs and Business Regulation to help operate the hub and directs deadlines for reporting by the consortium and the legislative commission. The bill does not specify an appropriation or detailed funding sources beyond establishing a competitive grant program and refers generally to exploring tax-based or state-program incentives to encourage course completion.

The measure was filed with the Senate on Jan. 17, 2025, as Senate No. 752. The bill text names the offices and entities to be involved and sets internal deadlines for reports; it does not record any committee actions, votes or public hearings in the filing itself.