Military Financial Literacy Act of 2026
Sponsored By: Representative McDonald Rivet, Kristen [D-MI-8]
Introduced
Summary
Personalized financial and housing counseling for active-duty and transitioning service members would be expanded and standardized across the Department of Defense through a required one-on-one counseling program.
Show full summary
- Service members and military families would receive tailored, credentialed counseling on credit, budgeting, avoiding predatory lending, rental planning around moves, VA home loan options, and Servicemembers Civil Relief Act protections.
- Counseling organizations would need HUD approval or be a 501(c)(19) veteran service organization with expertise and the ability to train and certify HUD-Certified Housing Counselors for the military community.
- The Secretary of Defense would be required to implement the individualized counseling program within 1 year and report to the armed services committees within 2 years on participation numbers, completion rates, and indicators of financial stress and housing instability.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
One-on-one money and housing help
If enacted, the bill would require the Defense Secretary to set up one-on-one financial and housing counseling for members of the Armed Forces. The counseling would be tailored to each service member and cover credit, budgeting, anti-predatory lending, moving and rental planning for changes of permanent station, home buying and selling, VA home loans, and protections under the Servicemembers Civil Relief Act and section 987 of title 10. The program would have to be in place within one year of enactment and the Secretary must seek an agreement with a counseling organization that is HUD‑approved, organized as a 501(c)(19) veteran service organization, has housing and VA loan expertise, and can train HUD‑Certified Housing Counselors for military families.
Allows Defense to write rules
If enacted, the bill would let the Secretary of Defense write regulations needed to run the new counseling program and carry out the related statutory changes. This authority would let the Department create procedures, forms, and training standards to implement one-on-one counseling for service members. These rules would be procedural and would not directly change most households' taxes or benefits.
Sponsors & CoSponsors
Sponsor
McDonald Rivet, Kristen [D-MI-8]
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
Rep. Magaziner, Seth [D-RI-2]
RI • D
Sponsored 5/12/2026
Rep. Begich, Nicholas J. [R-AK-At Large]
AK • R
Sponsored 5/12/2026
Davis (NC)
NC • D
Sponsored 5/12/2026
Rep. Neguse, Joe [D-CO-2]
CO • D
Sponsored 5/12/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov