Improving SCRA Benefit Utilization Act of 2025

This bill makes it easier for active-duty military members to get lower interest rates on debts they took on before entering active duty. Right now, servicemembers have to tell each creditor about each specific debt to get the interest rate capped at 6%, but this bill would require creditors to automatically apply that cap to all of the servicemember's debts with them once they receive notice. The bill also requires creditors to make sure servicemembers have a way to submit the paperwork they need. On top of that, it requires the military to include information about these financial protections in financial literacy training and to give servicemembers written notice of their rights when they first join the military and, for reservists, when they are called to active duty for more than 30 days.

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