S 1550 · in committee · significant
Improving SCRA Benefit Utilization Act of 2025
- veterans
What this bill does
- The bill expands interest rate protections for active-duty servicemembers to cap debt at 6% annually.
- Servicemembers and their dependents benefit from broader SCRA protections and improved access to financial literacy training.
- The bill requires creditors to apply caps to all obligations and provide submission mechanisms, with no new federal spending specified.
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Community Threads
Started by Cosponsor
- 01
How would capping interest rates at 6% for active-duty servicemembers affect lenders' willingness to extend credit to military personnel?
- 02
What evidence suggests that expanded financial literacy training would meaningfully reduce debt burdens for servicemembers and their dependents?
- 03
Which types of debt obligations should be covered under the 6% cap, and what trade-offs exist between broader coverage and lender participation?
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Sponsor · D-GA
Jon Ossoff
Citizen cosponsors
0
In Congress
1/ 100
Senators cosponsoring
Introduced 2025-05-01
Joining the bill
Legislative timeline
2025-05-01 · senate · IntroReferral
Read twice and referred to the Committee on Armed Services.
2025-05-01 · IntroReferral
Introduced in Senate
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