I 
109TH CONGRESS 
1ST SESSION H. R. 3472
To amend title 10, United States Code, to enhance the protection of members 
of the Armed Forces and their spouses from unscrupulous financial 
services sales practices through increased consumer education, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 27, 2005
Mr. EMANUEL (for himself, Mr. EDWARDS, Mr. RANGEL, Mr. PALLONE, Mr. 
MCGOVERN, Ms. DELAURO, Mr. DAVIS of Illinois, and Ms. WASSERMAN 
SCHULTZ) introduced the following bill; which was referred to the Com-
mittee on Armed Services 
A BILL 
To amend title 10, United States Code, to enhance the 
protection of members of the Armed Forces and their 
spouses from unscrupulous financial services sales prac-
tices through increased consumer education, and for 
other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Military Personnel Fi-
nancial Services Education Act of 2005’’.
SEC. 2. CONSUMER EDUCATION FOR MEMBERS OF THE 
ARMED FORCES AND THEIR SPOUSES ON IN-
SURANCE AND OTHER FINANCIAL SERVICES. 
(a) 
EDUCATION
AND
COUNSELING
REQUIRE-
MENTS.—
(1) IN
GENERAL.—Chapter 50 of title 10, 
United States Code, is amended by adding at the 
end the following new section: 
‘‘§ 992. Consumer education: financial services 
‘‘(a) REQUIREMENT
FOR CONSUMER EDUCATION 
PROGRAM FOR MEMBERS.—(1) The Secretary concerned 
shall carry out a program to provide comprehensive edu-
cation to members of the armed forces under the jurisdic-
tion of the Secretary on—
‘‘(A) financial services that are available under 
law to members; 
‘‘(B) financial services that are routinely of-
fered by private-sector sources to members; 
‘‘(C) practices relating to the marketing of pri-
vate-sector financial services to members; 
‘‘(D) such other matters relating to financial 
services available to members, and the marketing of 
financial services to members, as the Secretary con-
siders appropriate; and 
‘‘(E) such other financial practices as the Sec-
retary considers appropriate.
‘‘(2) Training under this subsection shall be provided 
to members—
‘‘(A) as a component of the members’ initial 
entry training; 
‘‘(B) as a component of each level of the mem-
bers’ professional development training that is re-
quired for promotion; and 
‘‘(C) as a component of periodically recurring 
required training that is provided for the members 
at military installations. 
‘‘(3) The training provided at a military installation 
under paragraph (2)(C) shall include information on any 
financial services marketing practices that are particularly 
prevalent at that military installation and in the vicinity. 
‘‘(b) COUNSELING FOR MEMBERS AND SPOUSES.—
(1) The Secretary concerned shall provide counseling on 
financial services to each member of the armed forces 
under the jurisdiction of the Secretary. 
‘‘(2) The Secretary concerned shall, upon request, 
provide counseling on financial services to the spouse of 
any member of the armed forces under the jurisdiction of 
the Secretary. 
‘‘(3) The Secretary concerned shall provide coun-
seling on financial services under this subsection as fol-
lows:
‘‘(A) In the case of members, and the spouses 
of members, assigned to a military installation to 
which at least 750 members of the armed forces are 
assigned, through a full-time financial services coun-
selor at such installation. 
‘‘(B) In the case of members, and the spouses 
of members, assigned to a military installation other 
than an installation described in subparagraph (A), 
through such mechanisms as the Secretary considers 
appropriate, including through the provision of coun-
seling by a member of the armed forces in pay grade 
E–7 or above, or a civilian, at such installation who 
provides such counseling as a part of the other du-
ties performed by such member or civilian, as the 
case may be, at such installation. 
‘‘(4) Each financial services counselor under para-
graph (2)(A), and each individual providing counseling on 
financial services under paragraph (2)(B), shall be an in-
dividual who, by reason of education, training, or experi-
ence, is qualified to provide helpful counseling to members 
of the armed forces and their spouses on financial services 
and marketing practices described in subsection (a)(1). 
Such individual may be a member of the armed forces or 
an employee of the Federal Government.
‘‘(5) The Secretary concerned shall take such action 
as is necessary to ensure that each financial services coun-
selor under paragraph (2)(A), and each individual pro-
viding counseling on financial services under paragraph 
(2)(B), is free from conflicts of interest relevant to the 
performance of duty under this section and, in the per-
formance of that duty, is dedicated to furnishing members 
of the armed forces and their spouses with helpful infor-
mation and counseling on financial services and related 
marketing practices. 
‘‘(6) The Secretary concerned may authorize financial 
services counseling to be provided to members of a unit 
of the armed forces by unit personnel under the guidance 
and with the assistance of a financial services counselor 
under paragraph (2)(A) or an individual providing coun-
seling on financial services under paragraph (2)(B), as ap-
plicable. 
‘‘(c) LIFE INSURANCE.—(1) In counseling a member 
of the armed forces, or the spouse of a member of the 
armed forces, under this section regarding life insurance 
offered by a private-sector source, a financial services 
counselor under subsection (b)(2)(A), or an individual pro-
viding counseling on financial services under subsection 
(b)(2)(B), shall furnish the member or spouse, as the case 
may be, with information on the availability of
Servicemembers’ Group Life Insurance under subchapter 
III of chapter 19 of title 38, including information on the 
amounts of coverage available and the procedures for 
electing coverage and the amount of coverage. 
‘‘(2)(A) A junior enlisted member may not authorize 
payment to be made for private-sector life insurance by 
means of an allotment of pay to which the member is enti-
tled under chapter 3 of title 37 unless the authorization 
of allotment is accompanied by a written certification by 
a commander of the member, or by a financial services 
counselor referred to in subsection (b)(2)(A) or an indi-
vidual providing counseling on financial services under 
subsection (b)(2)(B), as applicable, that the member has 
received counseling under paragraph (1) regarding the 
purchase of coverage under that private-sector life insur-
ance. 
‘‘(B) Subject to subparagraph (C), a written certifi-
cation described in subparagraph (A) may not be made 
with respect to a member’s authorization of allotment as 
described in subparagraph (A) until 7 days after the date 
of the member’s authorization of allotment in order to fa-
cilitate the provision of counseling to the member under 
paragraph (1).