Military Financial Literacy Accountability Act
- Bill Number
- H.R. 6717
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Armed Forces and National Security
- Status
- Introduced
- Latest Action
- 2025-12-15: Referred to the House Committee on Armed Services.
- Last Updated
- 2026-03-04T09:06:31Z
AI-Generated Summary
Purpose
The Military Financial Literacy Accountability Act (H.R. 6717) aims to enhance financial literacy training for members of the U.S. Armed Forces by improving surveys, tracking, and overall program effectiveness. This supports service members in managing personal finances, which can contribute to their overall readiness and well-being.
Key Provisions
- Enhanced Survey on Financial Literacy: Amends existing law to require the Secretary of Defense (instead of the Director of the Defense Manpower Data Center) to conduct a survey of enlisted members in pay grades E-7 or below and commissioned officers in pay grades O-4 or below. The survey must include questions to assess:
- Current financial literacy levels.
- Preferred delivery methods for education, such as in-person classes, online modules, mobile apps, peer learning, or counseling.
- Key topics of interest, including income and debt management, saving and investing, home buying, transition planning, insurance, education financing, and deployment-related finances.
- Barriers to participating in current programs.
- Recommendations for program improvements.
- Privacy Protections: Survey results must be compiled to safeguard respondents' privacy.
- Improved Tracking and Accountability:
- Update administrative systems to better track completion of mandatory financial readiness training.
- Identify and resolve reasons why some members do not complete the training.
- Develop and implement standardized performance measures to evaluate the Department of Defense's (DoD) financial education efforts, including a timeline for this process.
- Reporting to Congress: The Secretary of Defense must submit a timeline and strategy for implementing these survey changes.
Significant Changes to Existing Law
This bill modifies Section 992(e) of Title 10, United States Code, which previously authorized a basic financial literacy survey managed by the Defense Manpower Data Center. Key updates include:
- Shifting oversight to the Secretary of Defense for broader authority.
- Expanding the survey's scope from a simple assessment to a detailed tool covering preferences, needs, barriers, and recommendations.
- Adding explicit privacy requirements for survey data compilation.
- Introducing new mandates for tracking training completion, addressing non-completion, and measuring program effectiveness—elements not previously required.
Potential Impacts
- On Government Agencies: The DoD will face increased administrative responsibilities, including system updates, data analysis, and reporting to Congress, potentially requiring additional resources but leading to more effective programs.
- On Citizens (Service Members): Lower-ranking enlisted personnel and junior officers stand to benefit from tailored financial education, which could reduce financial stress, improve personal stability, and aid in life transitions like deployments or retirement. This may indirectly enhance military retention and morale.
- On International Relations: No direct impacts, as the bill focuses on domestic military personnel support.
Main Stakeholders Affected
- Primary: Active-duty members of the Armed Forces, particularly enlisted in pay grades E-7 or below and officers in O-4 or below, who will receive improved training.
- Secondary: The Secretary of Defense and military branch secretaries (e.g., Army, Navy), responsible for implementation; DoD personnel managing financial programs; and Congress, which receives reports to oversee progress.
Notable Legal, Constitutional, or Political Implications
- Legal: Strengthens accountability in DoD financial programs without creating new enforcement penalties; emphasizes privacy in data handling, aligning with federal data protection standards like those under the Privacy Act.
- Constitutional: No apparent conflicts, as it falls under Congress's authority to regulate the military (Article I, Section 8) and support armed forces welfare.
- Political: Promotes bipartisan interest in military support by addressing practical needs like financial readiness, potentially influencing future defense budgets. It underscores a focus on holistic service member care amid ongoing discussions on veteran and active-duty challenges.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (2)
Rep. Kiggans, Jennifer A. [R-VA-2], Rep. Scott, Austin [R-GA-8]
Recent Actions
- 2025-12-15: Referred to the House Committee on Armed Services.
- 2025-12-15: Introduced in House
- 2025-12-15: Introduced in House
Bill Versions
- Military Financial Literacy Accountability Act — issued 2025-12-15 — PDF (4 pages)