H.R. 1598, The Servicemembers Credit Protection Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 1598 would amend the Servicemembers Civil Relief Act to protect the credit of servicemembers deployed to an overseas combat zone and to facilitate awareness of a servicemember's rights under such Act.

Detailed Summary

Servicemembers Credit Protection Act - Amends the Servicemembers Civil Relief Act to direct the Secretary of Defense, in case of the deployment of a servicemember away from their usual duty station to duty for which the servicemember is entitled to special pay, to notify each consumer reporting agency (agency): (1) of the deployment of such servicemember within 30 days after the deployment; and (2) within 30 days after the end of such deployment. Requires the Secretary, in providing such notice, to take measures to ensure agency compliance with provisions of the Fair Credit Reporting Act with respect to the servicemember.

Increases penalties for consumer credit reporting violations involving servicemembers deployed to an overseas combat zone.

Amends the Fair Credit Reporting Act to require each agency that receives a combat zone duty alert from the Secretary with respect to a servicemember to: (1) include the alert in the file of that consumer and provide such alert along with any credit score, until notified by the Secretary that the consumer no longer qualifies for such alert; and (2) during the period of the alert, exclude the consumer from any list provided to a third party to offer credit or insurance to such consumer as part of a transaction not initiated by the consumer.

Requires the combat zone duty alert included in any consumer's file to include a summary of the consumer's rights under the Servicemembers Civil Relief Act and the duties of creditors and other persons to the consumer.

Status of the Legislation

Latest Major Action: 4/13/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Points in Favor

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Points Against

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