H.R. 3159 · In committee · Armed Forces and National Security

Improving SCRA Benefit Utilization Act

What it does

Require creditors to apply the 6% interest cap to all servicemember obligations with that creditor, not just those specifically named in SCRA notices.
Mandate that creditors provide accessible mechanisms for servicemembers to submit SCRA documentation and proof of active-duty status.
Require military departments to issue written notice of SCRA benefits to servicemembers at entry into active duty and reserve service.
Expand military financial literacy training to include detailed information on SCRA protections and consumer financial rights for servicemembers and dependents.

Official summary

Improving SCRA Benefit Utilization Act This bill expands interest rate protections under the Servicemembers Civil Relief Act (SCRA) and requires expanded training for and outreach to servicemembers regarding financial literacy and SCRA protections. The SCRA caps the maximum interest charged on any debt incurred by a servicemember prior to entering active duty at 6% annually if the servicemember's ability to pay is materially affected by active-duty status; servicemembers must provide notice and other documentation to creditors to receive this cap. The bill requires creditors to apply this cap to all of a servicemember’s obligations or liabilities with that creditor, regardless of whether a certain obligation or liability was specifically mentioned in the required notice provided by the member to invoke SCRA rights. Further, the bill requires creditors to provide all necessary mechanisms to ensure a servicemember is able to submit any required documentation. The bill also requires that the financial literacy training program provided to servicemembers include information about consumer financial protections afforded to such members and their dependents, including protections…

Latest action

May 14, 2026: Ordered to be Reported in the Nature of a Substitute by Voice Vote.

Committee: House Veterans' Affairs