Bill > S1565

This bill, titled the Military Consumer Protection Act, amends the Consumer Financial Protection Act to extend the oversight and protections of the Consumer Financial Protection Bureau (CFPB) to specific provisions within the Servicemembers Civil Relief Act (SCRA). The SCRA is a federal law designed to ease the financial and civil burdens of military personnel while they are in military service. This bill will allow the CFPB to provide greater protection to servicemembers concerning future financial transactions (excluding insurance), default judgments (excluding child custody cases), interest rates on debts incurred before service, evictions, installment contracts for purchases or leases, mortgages and trusts, motor vehicle leases, telephone service contracts, and the waiver of rights through written agreements (excluding bailments).