Bill
Bill > HR7966
US HR7966
US HR7966Protecting our Service Members and their Families from Predatory Financial Practices Act
summary
Introduced
04/11/2024
04/11/2024
In Committee
04/11/2024
04/11/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend title 10, United States Code, to require the verification of the financial independence of financial services counselors providing services to members of the Armed Forces, and for other purposes.
AI Summary
This bill amends Title 10 of the United States Code to require the verification of the financial independence of financial services counselors providing services to members of the Armed Forces. Specifically, it mandates that these counselors submit annual financial disclosures to the Secretary concerned (as defined in Section 101 of Title 10) to ensure they are free from conflicts of interest. The bill also requires the Secretary concerned to review these disclosures and ensure that any counselor found to have a conflict of interest is not permitted to provide financial services until the conflict is resolved. Additionally, the bill requires the Secretary concerned to submit an annual report to Congress on the percentage of counselors determined to be free from conflicts.
Committee Categories
Military Affairs and Security
Sponsors (14)
Mikie Sherrill (D)*,
Don Bacon (R),
Steve Cohen (D),
Don Davis (D),
Brian Fitzpatrick (R),
Sylvia Garcia (D),
Josh Gottheimer (D),
Tom Kean (R),
Rick Larsen (D),
Marc Molinaro (R),
Bill Pascrell (D),
Pat Ryan (D),
Elise Stefanik (R),
Jill Tokuda (D),
Last Action
Referred to the House Committee on Armed Services. (on 04/11/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/7966/all-info |
| BillText | https://www.congress.gov/118/bills/hr7966/BILLS-118hr7966ih.pdf |
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