Sponsors (24)
Requires DoD to create a one‑on‑one financial and housing counseling program for service members and partner with HUD‑approved and veteran counseling organizations.
Official title: To expand credentialed, personalized financial and housing counseling to members of the Armed Forces serving on active duty or transitioning from service, and for other purposes.
Introduced March 24, 2026 by Kristen McDonald Rivet · Last progress March 24, 2026
The bill improves access to personalized financial and housing counseling for service members and veterans using existing community partners and reporting for oversight, but it requires DoD funding, may produce uneven coverage, adds administrative workload, and does not guarantee remedial legal or financial relief.
Service members and veterans will gain access to one-on-one financial counseling (budgeting, credit, VA home loan guidance, SCRA protections), improving household financial stability and potentially reducing defaults and debt-related stress.
Service members (including relocating families) receive targeted housing counseling—including rental planning for PCS and HUD-certified housing counseling—reducing housing instability and poor housing decisions during moves.
The program leverages partnerships with HUD-approved agencies and 501(c)(19) veterans service organizations to expand access using existing expertise rather than creating a new federal housing agency.
The Department of Defense will need to fund and staff one-on-one counseling (or rely on contractors/grants), imposing measurable costs on the Defense budget and taxpayers.
Relying on external HUD-approved partners and veteran organizations could produce uneven service quality or geographic gaps if local partner capacity is limited.
Program rollout and required data collection will create administrative burden for commands, counselors, and federal employees, diverting time from other duties.
Based on analysis of 2 sections of legislative text.
Requires the Department of Defense to create a one-on-one financial and housing counseling program for active-duty service members covering credit, budgeting, anti‑predatory lending, relocation rental planning, VA home‑loan benefits, and Servicemembers Civil Relief Act protections. The Secretary of Defense must set up the program within one year and partner with HUD‑approved counseling agencies and tax‑exempt veteran service organizations to provide and train counselors. The law permits DoD to issue implementing regulations and requires a report to the House and Senate Armed Services Committees within two years after the services are established that documents utilization, completion rates, and measures of financial stress and housing instability among participating service members.