and address the racial wealth gap, many experts believe we need federally funded data collection efforts with the ability to disaggregate sample sizes by race, ethnicity, tribal affiliation, and country of birth. (10) Analytical tools like the Racial Wealth Audit from the Institute on Assets and Social Policy (IASP) and the Racial Equity Toolkit from the Government Alliance on Racial Equity (GARE) are needed to provide a framework to assess how legislation will widen or narrow the racial wealth divide. (11) Changes in individual behavior will not close the racial wealth divide, only structural systemic policy change. 41503. Data collection on race and wealth Section 10 of the Federal Reserve Act ( 12 U.S.C. 241 et seq.) is amended by inserting before paragraph (12) the following: (11) Data collection on race and wealth The Board of Governors of the Federal Reserve System shall, in carrying out any Survey of Consumer Finances or Survey of Household Economics and Decisionmaking, including the collection of localized data, collect information on household assets and debt disaggregated by respondent race, ethnicity, tribal affiliation, and ancestral origin. . P Housing Financial Literacy 41601. Short title This subtitle may be cited as the Housing Financial Literacy Act of 2020 . 41602. Discount on mortgage insurance premium payments for first-time homebuyers who complete financial literacy housing counseling programs The second sentence of subparagraph (A) of section 203(c)(2) of the National Housing Act ( 12 U.S.C. 1709(c)(2)(A) ) is amended— (1) by inserting before the comma the following: and such program is completed before the mortgagor has signed an application for a mortgage to be insured under this title or a sales agreement