II 

118TH CONGRESS 

2D SESSION S. 4102 

To amend title 10, United States Code, to include training regarding financial 

protections under the Servicemembers Civil Relief Act in certain financial 

literacy training programs for members of the Armed Forces, and for 

other purposes. 

IN THE SENATE OF THE UNITED STATES 

APRIL 10, 2024 

Mr. OSSOFF (for himself and Mr. SCOTT of Florida) introduced the following 

bill; which was read twice and referred to the Committee on Armed Services 

A BILL 

To amend title 10, United States Code, to include training 

regarding financial protections under the Servicemembers 

Civil Relief Act in certain financial literacy training programs for members of the Armed Forces, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Improving SCRA Ben5 efit Utilization Act’’. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
2 

•S 4102 IS

1 SEC. 2. FINANCIAL LITERACY TRAINING REGARDING THE 

2 SERVICEMEMBERS CIVIL RELIEF ACT. 

3 Section 992 of title 10, United States Code, is 

4 amended— 

5 (1) in subsection (a)(1)— 

6 (A) by redesignating subparagraphs (D) 

7 and (E) as subparagraphs (E) and (F), respec8 tively; and 

9 (B) by inserting, after subparagraph (C), 

10 the following new subparagraph (D): 

11 ‘‘(D) consumer financial protections afforded to 

12 members and their dependents under the law, in13 cluding protections regarding interest rate limits 

14 under section 207 of the Servicemembers Civil Relief 

15 Act (50 U.S.C. 3937);’’; and 

16 (2) in subsection (d)(1), by inserting ‘‘(includ17 ing with regards to knowledge and use of protections 

18 regarding interest rates under section 207 of the 

19 Servicemembers Civil Relief Act (50 U.S.C. 3937))’’ 

20 after ‘‘preparedness’’. 

21 SEC. 3. NOTIFICATION OF BENEFITS UNDER THE 

22 SERVICEMEMBERS CIVIL RELIEF ACT TO 

23 SERVICEMEMBERS CALLED OR ORDERED TO 

24 ACTIVE DUTY OR TO ACTIVE SERVICE. 

25 Section 105 of the Servicemembers Civil Relief Act 

26 (50 U.S.C. 3915) is amended— 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
3 

•S 4102 IS

1 (1) by striking the period at the end and insert2 ing ‘‘, including—’’; and 

3 (2) by adding at the end the following new 

4 paragraphs: 

5 ‘‘(1) at the time a person first enters military 

6 service; and 

7 ‘‘(2) in the case of a person who is a member 

8 of a reserve component— 

9 ‘‘(A) at the time the person first enters 

10 service in the reserve component; and 

11 ‘‘(B) at any time when the person is mobi12 lized or otherwise individually called or ordered 

13 to active duty for a period of more than 30 

14 days.’’. 

15 SEC. 4. FINANCIAL INSTITUTION OBLIGATION TO APPLY 

16 MAXIMUM RATE OF INTEREST ON ALL SERV17 ICEMEMBER DEBTS INCURRED BEFORE MILI18 TARY SERVICE. 

19 Section 207(b) of the Servicemembers Civil Relief Act 

20 (50 U.S.C. 3937) is amended— 

21 (1) in paragraph (2)— 

22 (A) by striking ‘‘the creditor shall treat the 

23 debt in accordance with subsection (a), effective 

24 as of the date on which the servicemember is 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
4 

•S 4102 IS

1 called to military service.’’ and inserting ‘‘the 

2 creditor shall—’’; and 

3 (B) by adding at the end the following new 

4 subparagraphs: 

5 ‘‘(A) treat the debt in accordance with sub6 section (a), effective as of the date on which the 

7 servicemember is called to military service; and 

8 ‘‘(B) treat any other obligation or liability 

9 of the servicemember to the creditor in accord10 ance with subsection (a), whether or not such 

11 obligation or liability was specifically mentioned 

12 in a notice provided by the servicemember 

13 under paragraph (1)(A).’’; and 

14 (2) by adding at the end the following new 

15 paragraph: 

16 ‘‘(3) SUBMISSION OF DOCUMENTS.—A creditor 

17 shall provide all necessary mechanisms to ensure 

18 that a servicemember is able to submit any docu19 ments required in order for an obligation or liability 

20 of the servicemember to be subject to the interest 

21 rate limitation in subsection (a) either online, by 

22 mail, or by fax, at the election of the servicemem23 ber.’’. 

Æ 


kjohnson on DSK7ZCZBW3PROD with $$_JOB