US Congress House Bill 3691 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on December 10 2013 - 25% progression, died in committee
Action: 2014-01-24 - Referred to the Subcommittee on Military Personnel.
Pending: House Subcommittee on Military Personnel Committee
Text: Latest bill text (Introduced) [PDF]

Transparency in Military Lending Act of 2013 - Requires a creditor to provide to a member of the Armed Forces on active regular, reserve, or National Guard duty or such member's dependent, with respect to any extension of consumer credit, and to obtain the member's or dependent's signed acknowledgement of: (1) a statement that the Department of Defense (DOD) and each service branch offers a variety of financial counseling services; (2) a statement that other, potentially lower interest rate loans may be available through other financial institutions and military relief societies; (3) contact information for the nearest DOD financial counseling office; and (4) the actual cost of the extension of credit when paid off at different points over time. Directs the Secretary of Defense to prepare a list of DOD financial counseling offices and make such list available to creditors and the public.

Transparency in Military Lending Act of 2013

Rep. Daniel Kildee [D-MI]

Date	Chamber	Action
2014-01-24	House	Referred to the Subcommittee on Military Personnel.
2013-12-10	House	Referred to the House Committee on Armed Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/3691/all-info
Text	https://www.congress.gov/113/bills/hr3691/BILLS-113hr3691ih.pdf