Bill > HR6717

This bill, titled the "Military Financial Literacy Accountability Act," aims to enhance financial education for members of the U.S. Armed Forces by modifying how financial literacy and preparedness are assessed and addressed. Specifically, it shifts the responsibility for a financial literacy survey from the Director of the Defense Manpower Data Center to the Secretary of Defense, requiring the survey to gather detailed information on enlisted members and junior officers' current financial knowledge, preferred learning methods (like in-person, online, or mobile training), specific financial topics of interest (such as debt management, saving, or home buying), barriers to participation in existing programs, and suggestions for improvement. The bill also mandates that the survey results be compiled while protecting respondents' privacy. Furthermore, the Secretary of Defense is tasked with improving the tracking of completion for mandatory financial readiness training, identifying reasons for non-completion, and establishing a timeline for developing and implementing standardized measures to assess the effectiveness of the Department of Defense's financial education efforts, with a report to Congress on the implementation plan.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/6717/all-info