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Military Financial Counselors Must Disclose Finances to Prevent Conflicts of Interest.

This law requires financial counselors working for the Department of Defense (DoD) to submit annual financial disclosures. The goal is to eliminate conflicts of interest, ensuring military members and their families receive unbiased and trustworthy financial advice. If a conflict is identified, the counselor must stop providing services until the issue is resolved.
Key points
DoD financial counselors must annually disclose their finances to verify their independence and freedom from conflicts of interest.
This protects service members and their families from receiving biased advice driven by the counselor's personal financial gain.
Counselors found to have conflicts of interest are barred from providing services until the conflict is resolved, enhancing the reliability of financial guidance.
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Additional Information
Print number: 118_S_2528
Sponsor: Sen. Feinstein, Dianne [D-CA]
Process start date: 2023-07-26
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to require verification of the financial independence of financial services counselors in the Department of Defense.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2528.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-26.

What are the main provisions?

Key points include:

  • DoD financial counselors must annually disclose their finances to verify their independence and freedom from conflicts of interest.
  • This protects service members and their families from receiving biased advice driven by the counselor's personal financial gain.
  • Counselors found to have conflicts of interest are barred from providing services until the conflict is resolved, enhancing the reliability of financial guidance.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Feinstein, Dianne [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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