S.Amdt. 3125

SA 3125. Mr. OSSOFF (for himself and Mr. Scott of Florida) submitted
an amendment intended to be proposed by him to the bill S. 2296, to
authorize appropriations for fiscal year 2026 for military activities
of the Department of Defense, for military construction, and for
defense activities of the Department of Energy, to prescribe military
personnel strengths for such fiscal year, and for other purposes; which
was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. FINANCIAL LITERACY TRAINING REGARDING THE
SERVICEMEMBERS CIVIL RELIEF ACT.

Section 992 of title 10, United States Code, is amended--
(1) in subsection (a)(1)--
(A) by redesignating subparagraphs (D) and (E) as
subparagraphs (E) and (F), respectively; and
(B) by inserting, after subparagraph (C), the following new
subparagraph (D):
``(D) consumer financial protections afforded to members
and their dependents under the law, including protections
regarding interest rate limits under section 207 of the
Servicemembers Civil Relief Act (50 U.S.C. 3937);''; and
(2) in subsection (d)(1), by inserting ``(including with
regards to knowledge and use of protections regarding
interest rates under section 207 of the Servicemembers Civil
Relief Act (50 U.S.C. 3937))'' after ``preparedness''.

SEC. ___. NOTIFICATION OF BENEFITS UNDER THE SERVICEMEMBERS
CIVIL RELIEF ACT TO SERVICEMEMBERS CALLED OR
ORDERED TO ACTIVE DUTY OR TO ACTIVE SERVICE.

Section 105 of the Servicemembers Civil Relief Act (50
U.S.C. 3915) is amended--
(1) by striking the period at the end and inserting ``,
including--''; and
(2) by adding at the end the following new paragraphs:
``(1) at the time a person first enters military service;
and
``(2) in the case of a person who is a member of a reserve
component--
``(A) at the time the person first enters service in the
reserve component; and
``(B) at any time when the person is mobilized or otherwise
individually called or ordered to active duty for a period of
more than 30 days.''.

SEC. ___. FINANCIAL INSTITUTION OBLIGATION TO APPLY MAXIMUM
RATE OF INTEREST ON ALL SERVICEMEMBER DEBTS
INCURRED BEFORE MILITARY SERVICE.

Section 207(b) of the Servicemembers Civil Relief Act (50
U.S.C. 3937) is amended--
(1) in paragraph (2)--
(A) by striking ``the creditor shall treat the debt in
accordance with subsection (a), effective as of the date on
which the servicemember is called to military service.'' and
inserting ``the creditor shall--''; and
(B) by adding at the end the following new subparagraphs:
``(A) treat the debt in accordance with subsection (a),
effective as of the date on which the servicemember is called
to military service; and
``(B) treat any other obligation or liability of the
servicemember to the creditor in accordance with subsection
(a), whether or not such obligation or liability was
specifically mentioned in a notice provided by the
servicemember under paragraph (1)(A).''; and
(2) by adding at the end the following new paragraph:
``(3) Submission of documents.--A creditor shall provide
all necessary mechanisms to ensure that a servicemember is
able to submit any documents required in order for an
obligation or liability of the servicemember to be subject to
the interest rate limitation in subsection (a) either online,
by mail, or by fax, at the election of the servicemember.''.
______