Improving SCRA Benefit Utilization Act

Updates military financial literacy training and the Servicemembers Civil Relief Act (SCRA) to give servicemembers and their families clearer notice of SCRA protections and to make it easier to get the SCRA interest-rate cap applied. Schools and financial counselors for service members must cover consumer protections (including the SCRA interest-rate limit). Creditors must apply the SCRA interest-rate limit when a servicemember is called to duty and must accept necessary documentation online, by mail, or by fax. Reserve members must be notified of SCRA benefits when they first enter reserve service and when mobilized for more than 30 days.