Military Consumer Protection Act

Military Consumer Protection Act

This bill amends the Consumer Financial Protection Act to extend Consumer Financial Protection Bureau oversight and protection to persons covered by provisions of the Servicemembers Civil Relief Act concerning:

• future financial transactions, excluding insurance;
• default judgments, excluding child custody proceedings;
• interest rates on pre-service debts;
• evictions;
• purchase or lease installment contracts;
• mortgages and trusts;
• motor vehicle leases;
• telephone service contracts;
• waiver of rights pursuant to a written agreement, excluding bailments; and
• the rights and protections of reserves ordered to report for military service and persons ordered to report for induction.