Bill Introduced to Amend FCRA and Expand Credit Monitoring to All Servicemembers

A bipartisan bill has been introduced in the House of Representatives that seeks to amend the Fair Credit Reporting Act so that more servicemembers would have access to credit monitoring services.

Information about the proposed legislation, H.R. 1521, can be accessed by clicking here.

The bill was introduced by Rep. Elise Stefanik [R-N.Y.] and Rep. Any Kim [D-N.J.] and has been referred to the House Financial Services Committee. It is called the Servicemember Credit Monitoring Enhancement Act.

Under the FCRA, only active duty members of the military and National Guard, as well as Reservists in active duty status eligible for free credit monitoring service. The bill would expand that coverage to include all servicemembers, including members of the traditional National Guard and all Reservists eligible for the service. The bill would create a definition for a “Uniformed services member consumer” as a consumer who is a member of the uniformed services — considered to be the armed forces (Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard), the commissioned corps of the National Oceanic and Atmospheric Administration, and the commissioned corps of the Public Health Service.

“Our servicemembers have all taken an oath to protect our nation, and it is critical we make sure they are protected,” said Rep. Stefanik, in a statement. “I am proud to introduce this bipartisan legislation to extend these credit monitoring services to all our men and women in uniform. As they answer the call to duty, they deserve to do so with the peace of mind that their finances will be securely monitored.”

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