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HR8056119th CongressWALLET

Military Financial Literacy Act of 2026

Sponsored By: Representative McDonald Rivet

Introduced

Summary

Personalized financial and housing counseling for active-duty and transitioning service members would expand one-on-one help on credit, budgeting, rental planning, VA home loans, and legal safeguards.

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  • Service members and families — One-on-one counseling would be tailored to each member and cover credit management, budgeting, anti-predatory lending, changes of permanent station and rental planning, VA home loans, and protections under the Servicemembers Civil Relief Act and section 987 of title 10. The Secretary of Defense would have one year to set up the program.
  • Veteran service groups and housing counselors — The Department of Defense would seek an agreement with a HUD-approved counseling agency organized as a 501(c)(19) veteran service organization to develop, administer, and certify HUD-Certified Housing Counselors for military-connected communities.
  • Department of Defense oversight and reporting — The Secretary could issue regulations and would report within two years after services begin on the number served, completion rates, and indicators of financial stress and housing instability along with mitigation metrics.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

One-on-one financial help for servicemembers

If enacted, the Defense Secretary would have to start a program within one year to give one-on-one financial and housing counseling to each member of the Armed Forces. Counseling would cover credit management, budgeting, anti‑predatory lending, permanent change of station and rental planning, VA home loans, and protections under the Servicemembers Civil Relief Act and 10 U.S.C. 987. The program would follow Department of Defense Instruction 1322.34 and the Secretary would be able to issue regulations to implement it. The Secretary would seek an agreement with a HUD‑approved counseling agency organized as a 501(c)(19) veteran service organization to train HUD‑Certified Housing Counselors for service members, veterans, and their families. Not later than two years after services begin, the Secretary would report to the House and Senate Armed Services Committees on how many members received housing or rental counseling, completion rates, and indicators of financial stress and housing instability.

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Sponsors & CoSponsors

Sponsor

McDonald Rivet

MI • D

Cosponsors

  • Rep. Harrigan, Pat [R-NC-10]

    NC • R

    Sponsored 3/24/2026

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 4/15/2026

  • Evans (CO)

    CO • R

    Sponsored 4/21/2026

Roll Call Votes

No roll call votes available for this bill.

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