[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4102 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 4102

 To amend title 10, United States Code, to include training regarding 
  financial protections under the Servicemembers Civil Relief Act in 
 certain financial literacy training programs for members of the Armed 
                    Forces, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 10, 2024

   Mr. Ossoff (for himself and Mr. Scott of Florida) introduced the 
 following bill; which was read twice and referred to the Committee on 
                             Armed Services

_______________________________________________________________________

                                 A BILL


 
 To amend title 10, United States Code, to include training regarding 
  financial protections under the Servicemembers Civil Relief Act in 
 certain financial literacy training programs for members of the Armed 
                    Forces, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Improving SCRA Benefit Utilization 
Act''.

SEC. 2. FINANCIAL LITERACY TRAINING REGARDING THE SERVICEMEMBERS CIVIL 
              RELIEF ACT.

    Section 992 of title 10, United States Code, is amended--
            (1) in subsection (a)(1)--
                    (A) by redesignating subparagraphs (D) and (E) as 
                subparagraphs (E) and (F), respectively; and
                    (B) by inserting, after subparagraph (C), the 
                following new subparagraph (D):
            ``(D) consumer financial protections afforded to members 
        and their dependents under the law, including protections 
        regarding interest rate limits under section 207 of the 
        Servicemembers Civil Relief Act (50 U.S.C. 3937);''; and
            (2) in subsection (d)(1), by inserting ``(including with 
        regards to knowledge and use of protections regarding interest 
        rates under section 207 of the Servicemembers Civil Relief Act 
        (50 U.S.C. 3937))'' after ``preparedness''.

SEC. 3. NOTIFICATION OF BENEFITS UNDER THE SERVICEMEMBERS CIVIL RELIEF 
              ACT TO SERVICEMEMBERS CALLED OR ORDERED TO ACTIVE DUTY OR 
              TO ACTIVE SERVICE.

    Section 105 of the Servicemembers Civil Relief Act (50 U.S.C. 3915) 
is amended--
            (1) by striking the period at the end and inserting ``, 
        including--''; and
            (2) by adding at the end the following new paragraphs:
            ``(1) at the time a person first enters military service; 
        and
            ``(2) in the case of a person who is a member of a reserve 
        component--
                    ``(A) at the time the person first enters service 
                in the reserve component; and
                    ``(B) at any time when the person is mobilized or 
                otherwise individually called or ordered to active duty 
                for a period of more than 30 days.''.

SEC. 4. FINANCIAL INSTITUTION OBLIGATION TO APPLY MAXIMUM RATE OF 
              INTEREST ON ALL SERVICEMEMBER DEBTS INCURRED BEFORE 
              MILITARY SERVICE.

    Section 207(b) of the Servicemembers Civil Relief Act (50 U.S.C. 
3937) is amended--
            (1) in paragraph (2)--
                    (A) by striking ``the creditor shall treat the debt 
                in accordance with subsection (a), effective as of the 
                date on which the servicemember is called to military 
                service.'' and inserting ``the creditor shall--''; and
                    (B) by adding at the end the following new 
                subparagraphs:
                    ``(A) treat the debt in accordance with subsection 
                (a), effective as of the date on which the 
                servicemember is called to military service; and
                    ``(B) treat any other obligation or liability of 
                the servicemember to the creditor in accordance with 
                subsection (a), whether or not such obligation or 
                liability was specifically mentioned in a notice 
                provided by the servicemember under paragraph 
                (1)(A).''; and
            (2) by adding at the end the following new paragraph:
            ``(3) Submission of documents.--A creditor shall provide 
        all necessary mechanisms to ensure that a servicemember is able 
        to submit any documents required in order for an obligation or 
        liability of the servicemember to be subject to the interest 
        rate limitation in subsection (a) either online, by mail, or by 
        fax, at the election of the servicemember.''.
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