Bill > HR5683

This bill establishes the Military Consumer Protection Task Force Act of 2025, creating an interagency task force to combat financial fraud targeting military members, veterans, and their families. The bill highlights the growing problem of financial fraud in the military community, noting that in 2024, such fraud resulted in approximately $584 million in total losses, with nearly 80,000 complaints filed with the Federal Trade Commission. The task force will be led by the Secretary of Defense in consultation with the Secretary of Veterans Affairs and will include representatives from various federal agencies, including the Department of Defense, Department of Veterans Affairs, Federal Trade Commission, Consumer Financial Protection Bureau, and others. The task force will meet at least three times per year, with duties including collecting data on financial challenges, identifying current methods of financial exploitation (such as imposter scams, investment fraud, and predatory lending), evaluating existing federal programs, and developing recommendations to prevent and combat financial fraud. The task force will submit annual reports to key congressional committees, providing insights and recommendations for protecting military consumers from financial fraud.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/5683/all-info