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Improved Financial Protections for Servicemembers

This act aims to enhance servicemembers' access to crucial financial benefits, such as reduced interest rates on debts. It mandates financial literacy training and simplifies the process for reporting debts, protecting them from excessive costs during service. This ensures servicemembers and their families are better informed about their rights and can more easily utilize them.
Key points
Mandatory financial literacy training for servicemembers, including protection against high interest rates.
Increased awareness of financial rights for servicemembers called to active duty.
Banks must automatically apply reduced interest rates to all servicemember debts, not just those specifically reported.
Easier debt reporting to creditors – online, mail, or fax options available.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3159
Sponsor: Rep. McClain Delaney, April [D-MD-6]
Process start date: 2025-05-01
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Improving SCRA Benefit Utilization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3159.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-05-01.

What are the main provisions?

Key points include:

  • Mandatory financial literacy training for servicemembers, including protection against high interest rates.
  • Increased awareness of financial rights for servicemembers called to active duty.
  • Banks must automatically apply reduced interest rates to all servicemember debts, not just those specifically reported.
  • Easier debt reporting to creditors – online, mail, or fax options available.
What is the specific legal status?

The current status is Introduced.

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 Rep. McClain Delaney, April [D-MD-6].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Economic Opportunity.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Benefits Courts and Law