Transparency in Military Lending Act of 2013
Latest action · Jan 24, 2014 Referred to the Subcommittee on Military Personnel.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedDec 10, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Transparency in Military Lending Act of 2013 - Requires a creditor to provide to a member of the Armed Forces on active regular, reserve, or National Guard duty or such member's dependent, with respect to any extension of consumer credit, and to obtain the member's or dependent's signed acknowledgement of: (1) a statement that the Department of Defense (DOD) and each service branch offers a variety of financial counseling services; (2) a statement that other, potentially lower interest rate loans may be available through other financial institutions and military relief societies; (3) contact information for the nearest DOD financial counseling office; and (4) the actual cost of the extension of credit when paid off at different points over time.
Directs the Secretary of Defense to prepare a list of DOD financial counseling offices and make such list available to creditors and the public.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Armed Services Committee | Referred Dec 10, 2013 |
| Military Personnel Subcommittee | Referred Jan 24, 2014 |
Actions 3
Everything that happened, newest first.
- Jan 24, 2014Referred to the Subcommittee on Military Personnel.
- Dec 10, 2013Introduced in House
- Dec 10, 2013Referred to the House Committee on Armed Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H7628.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend title 10, United States Code, to require additional disclosures when lending to military members and their dependents, and for other purposes.
- Short Titles as Introduced
- Transparency in Military Lending Act of 2013
Subjects
Assigned by the Library of Congress. Policy area: Armed Forces and National Security.
Text 1
Each version as it was printed, newest first.
- Dec 10, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
