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S 1550119th CongressIntroduced
Improving SCRA Benefit Utilization Act of 2025
Introduced: Oct 29, 2025
Defense & National SecurityFinancial ServicesVeterans Affairs
Standard Summary
Comprehensive overview in 1-2 paragraphs
This legislation amends the Servicemembers Civil Relief Act to strengthen financial protections for military personnel by mandating SCRA benefit education in financial literacy programs, requiring timely benefit notifications during service transitions, and clarifying creditor obligations to apply 6% interest rate caps on pre-service debts through accessible documentation methods.
Key Points
- 1Requires mandatory inclusion of SCRA financial protections, particularly interest rate limitations under section 207, in all military financial literacy training programs for service members
- 2Mandates benefit notifications at critical junctures including initial service entry and reserve component mobilization for active duty exceeding 30 days
- 3Compels financial institutions to apply the 6% interest rate cap to all pre-service debts automatically and provide online/mail/fax document submission options for servicemembers
Impact Areas
Active-duty military personnel and their dependentsReserve component members transitioning to active dutyBanks, lenders, and financial institutions processing military accounts
Generated by legislative-analyzer-prod-v3 on Nov 8, 2025