H.R. 2329 – Reading Mode

112th CONGRESS

1st Session

H. R. 2329

IN THE HOUSE OF REPRESENTATIVES

June 23, 2011

Mr. Johnson of Ohio (for himself, Mr. Bass of New Hampshire, Mr. LaTourette, Mr. Upton, Mrs. Emerson, Mr. Coble, Mr. Pitts, Mrs. Schmidt, and Mr. Brooks) introduced the following bill; which was referred to the Committee on Veterans’ Affairs

A BILL

To amend the Servicemembers Civil Relief Act to provide for certain requirements for financial institutions that are creditors for obligations and liabilities covered by that Act.

Short title

This Act may be cited as the Ensuring a Response for Servicemembers Act.

Requirements for lending institutions that are creditors for obligations and liabilities covered by the Servicemembers Civil Relief Act

Section 207 of the Servicemembers Civil Relief Act is amended—

(1)

by redesignating subsections (d) and (e) as subsections (e) and (f), respectively; and

(2)

by inserting after subsection (c) the following new subsection (d):

(d)

Lending institution requirements

(1)

Compliance officers

Each lending institution subject to the requirements of this section shall designate an employee of the institution as a compliance officer who is responsible for ensuring the institution’s compliance with this section and for distributing information to servicemembers whose obligations and liabilities are covered by this section.

(2)

Toll-free telephone number

During any fiscal year, a lending institution subject to the requirements of this section that had annual assets for the preceding fiscal year of $10,000,000,000 or more shall maintain a toll-free telephone number and shall make such telephone number available on the primary Internet Web site of the institution.