Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 513) to amend the Servicemembers Civil Relief Act to enhance the protection of credit ratings of active duty military personnel who are activated for military service, as…
Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 513) to amend the Servicemembers Civil Relief Act to enhance the protection of credit ratings of active duty military personnel who are activated for military service, as amended.
Mr. Speaker, I yield myself such time as I may consume.
As we approach Veterans Day in another week, it is important that we, as Members of the House, not just give our speeches and ride in the parades on Veterans Day but we actually do things that will help our veterans, say thank you for their service, and make sure they get the benefits that are due them when they return home, and that they also avoid pitfalls that come about because they are serving their Nation abroad. There are many examples of this, and we are going to correct a few today.
The first and most important, I think, is to assure that when our service men and women are abroad, when they are in active duty, that they do not face credit problems as a result of that duty if they miss some payments on bills back home. Our colleague, Mr. Brady from Philadelphia, chairman also of our House Administration Committee, has looked at this problem and has come up with a solution.
Mr. Speaker. I rise in strong support of H.R. 513, as amended.
I would like to thank my distinguished colleague, Congressman Robert Brady of Pennsylvania, for crafting this important bill to help protect our Nations veterans. I'd also like to thank the Subcommittee on Economic Opportunity Chairwoman, Stephanie Herseth Sandlin, and Ranking Member John Boozman for the strong bipartisan leadership they demonstrated in working on this legislation.
When called to duty, servicemembers across our Nation leave their loved ones, school, and work behind.
Unfortunately as we are witnessing today, some of these servicemembers are returning to letters of delinquency from credit lenders and credit bureaus due to their extended military service abroad.
Mr. Speaker, we must honor our servicemembers' sacrifice by providing them with the resources and financial security needed to protect what they have left behind, so that they may have the peace of mind that their financial interests are protected while serving our Nation.
Mr. Speaker, as you know, a credit score impacts all aspects of your life. It represents you as a consumer and indicates to the potential lender if you are trustworthy of repaying your debt. It also determines whether you will qualify for a good interest for a home loan, buying a car, or even school loans.
H.R. 513, as amended, would protect these men and women while they are at war, by providing an explanation in their credit report. This explanation would be generated by a consumer reporting agency, and delivered in conjunction with a consumer report or credit score.
It will indicate in the consumer report, or credit score, that the consumer was adversely affected during a period in which the servicemember was on active duty outside the continental United States in support of a contingency operation.
To qualify, a person would have to be a member of the National Guard or Reserve, have the account open prior to deployment, and served a specifying period of service of no less than 180 days. By including a military service deployment explanation, any person who requests the credit score or consumer report of the servicemember will be informed of a potential reason of non-payment or missed payments.
Currently, there is no credit protection offered to the men and women in the National Guard and Reserve.
Furthermore, this legislation alleviates the servicemembers' concerns over negative financial implications of their deployment.
Regardless of your view on the war, we all stand united in caring for our veterans. I urge all my colleagues to join me in support of H.R. 513, as amended.
Mr. Speaker, I yield such time as he may consume to the gentleman from Pennsylvania (Mr. Brady) to explain how this bill will help our active duty forces when they return home.
(Mr. BRADY of Pennsylvania asked and was given permission to revise and extend his remarks.)
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, this war in Iraq has involved our National Guard and Reserve units to an extent that has never before been the case. And many of our laws simply do not reflect the new force structure that you see in Iraq. And that is what we, as a committee, are working to change. For example, the National Guard and Reserve units, even if they are in active duty, as they are in Iraq, are not eligible for the same benefits from the GI Bill as our active duty troops. We are going to change that. We are going to change a number of things. And I thank Mr. Brady, the gentleman from Philadelphia, for making sure that the Guard and Reserve groups have the protections in law that our active duty troops already have. We must protect their jobs, their credit ratings, and their quality of life as they are away from home in active duty supporting our Nation.
The laws have not kept up with this force structure. This is one of the ways that we're going to change that. So we're going to make sure that when they come home, they are recognized and not penalized for their active duty.
Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on H.R. 513, as amended.
Mr. Speaker, I yield back the balance of my time.
Mr. Speaker, on that I demand the yeas and nays.