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Military Personnel Financial Services Education Act of 2005

Read twice and referred to the Committee on Armed Services. (text of measure as introduced: CR S5159-5160)

Official summary

Version 00 · Introduced in Senate · May 12, 2005

Military Personnel Financial Services Education Act of 2005 - Provides financial services and life insurance consumer education for members of the Armed Forces and their spouses, which shall be provided as a component of initial entry and recurring training. (Such training shall include information on financial services marketing practices that are particularly prevalent at a military installation and vicinity.)

Provides financial services counseling for members of the Armed Forces, and upon request, for their spouses. Requires a full-time trained counselor at installations with at least 750 assigned personnel, and other counseling at smaller installations.

Requires counselors to provide members or spouses with information on Servicemembers' Group Life Insurance when providing information on private sector life insurance. Prohibits E-1 through E-4 members to pay for private sector insurance through pay allotments without a written certification of counseling.

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Who introduced it

Sen. Clinton, Hillary Rodham [D-NY] · D–NY

Committees

  • Armed Services Committee
1 cosponsorship records, including any withdrawals

Actions

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  1. Read twice and referred to the Committee on Armed Services. (text of measure as introduced: CR S5159-5160)

  2. Sponsor introductory remarks on measure. (CR S5158-5159)

  3. Introduced in Senate

Bill text & related measures

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Related bills identified by Congress.gov

Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.

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