To establish a specific consumer protection liaison for service members and their families, and for other purposes.

SA 3943. Mr. REED (for himself and Mr. Brown of Massachusetts)
submitted an amendment intended to be proposed to amendment SA 3739
proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to
the bill S. 3217, to promote the financial stability of the United
States by improving accountability and transparency in the financial
system, to end ``too big to fail'', to protect the American taxpayer by
ending bailouts, to protect consumers from abusive financial services
practices, and for other purposes; which was ordered to lie on the
table; as follows:

On page 1219, after line 25, insert the following:
``(e) Office of Service Member Affairs.--
``(1) In general.--The Director shall establish an Office
of Service Member Affairs, which shall be responsible for
developing and implementing initiatives for service members
and their families intended to--
``(A) educate and empower service members and their
families to make better informed decisions regarding consumer
financial products and services;
``(B) coordinate with the unit of the Bureau established
under subsection (b)(3), in order to monitor complaints by
service members and their families and responses to those
complaints by the Bureau or other appropriate Federal or
State agency; and
``(C) coordinate efforts among Federal and State agencies,
as appropriate, regarding consumer protection measures
relating to consumer financial products and services offered
to, or used by, service members and their families.
``(2) Coordination.--
``(A) Regional services.--The Director is authorized to
assign employees of the Bureau as may be deemed necessary to
conduct the business of the Office of Service Member Affairs,
including by establishing and maintaining the functions of
the Office in regional offices of the Bureau located near
military bases, military treatment facilities, or other
similar military facilities.
``(B) Agreements.--The Director is authorized to enter into
memoranda of understanding and similar agreements with the
Department of Defense, including any branch or agency as
authorized by the department, in order to carry out the
business of the Office of Service Member Affairs.
``(3) Definition.--As used in this subsection, the term
`service member' means any member of the United States Armed
Forces and any member of the National Guard or Reserves.''.
______