What does Preamble of Military Financial Literacy Act of 2026 do?

This bill aims to expand credentialed, personalized financial and housing counseling. The counseling is targeted towards members of the Armed Forces. The bill addresses both active duty service members and those transitioning from service.

What does SHORT TITLE. of Military Financial Literacy Act of 2026 do?

This bill is formally titled the Military Financial Literacy Act of 2026.

What does EXPANSION OF PERSONALIZED FINANCIAL AND HOUSING COUNSELING FOR of Military Financial Literacy Act of 2026 do?

This section amends Section 992 of title 10, United States Code, to expand personalized financial and housing counseling for members of the Armed Forces. It redesignates existing subparagraphs and inserts a new subparagraph (D) listing topics for counseling, including financial management, home buying, renting, and home loans through the Department of Veterans Affairs. The Secretary of Defense is directed to establish a program within one year of enactment to provide one-on-one counseling tailored to individual needs, covering areas like credit management, budgeting, and protections under the Servicemembers Civil Relief Act. The Secretary shall seek agreements with counseling service organizations that are HUD-approved, tax-exempt Veteran Service Organizations, and possess expertise in financial literacy and veteran benefits. The Secretary of Defense may prescribe regulations to implement these changes. A report on the implementation of these services, including metrics on participation, completion rates, and financial stress indicators, must be submitted to the Armed Services Committees of the Senate and House within two years of the services' establishment.

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Military Financial Literacy Act of 2026

Last updated: 3/24/2026 · Introduced: 3/24/2026

Author: Kristen McDonald Rivet (D-MI)

TL;DR (AI)

The Military Financial Literacy Act of 2026 amends existing law to expand financial and housing counseling services for active duty and transitioning service members.
The bill directs the Secretary of Defense to establish a program providing personalized, one-on-one counseling on topics like budgeting, credit management, and homeownership.
The Secretary of Defense must collaborate with HUD-approved counseling organizations and report on the program's implementation, including participation rates and financial stress indicators.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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