[Congressional Record Volume 171, Number 131 (Wednesday, July 30, 2025)]
[Senate]
[Page S4917]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3125. Mr. OSSOFF (for himself and Mr. Scott of Florida) submitted 
an amendment intended to be proposed by him to the bill S. 2296, to 
authorize appropriations for fiscal year 2026 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. 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. ___. 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. ___. 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.''.
                                 ______