Military Financial Literacy Accountability Act
Summary
What This Bill Does
This bill amends the military financial literacy survey and training statute so the Secretary of Defense, rather than the Defense Manpower Data Center Director, is responsible for a broader survey of servicemember financial education needs. The survey must cover financial literacy levels for enlisted members E-7 and below and officers O-4 and below, preferred delivery methods, topics such as debt repair, home buying, investing, insurance, tuition assistance, deployment, and relocation, barriers to participation, and member recommendations. It also requires privacy-protective compilation, better completion tracking, analysis of noncompletion causes, performance-measure planning, and a congressional implementation strategy.
Who Benefits and How
Junior and mid-grade servicemembers benefit if the Department of Defense uses the new survey and tracking requirements to make financial readiness training more relevant, private, accessible, and targeted to real needs such as debt management, credit repair, home buying, tuition assistance, insurance, deployment costs, and transition planning.
Who Bears the Burden and How
The Secretary of Defense, service secretaries, and Defense Department training administrators must modify administrative systems, protect respondent privacy, track completion more accurately, identify why members do not complete training, decide whether standardized performance measures are needed, and submit an implementation timeline and strategy to Congress.
Key Provisions
- Requires the Secretary of Defense to survey specific financial literacy needs and preferred training formats for servicemembers.
- Protects servicemember privacy in how survey responses are compiled.
- Requires service administrative systems to improve financial readiness training completion tracking.
- Directs the Department of Defense to identify noncompletion causes and report a performance-measure implementation strategy to Congress.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Shift military financial literacy survey responsibility to the Secretary of Defense and require better privacy, completion tracking, noncompletion review, and performance-measure planning for financial readiness training.
Key Policy Areas
Defense, Education, Consumer Finance
Primary Purpose
Shift military financial literacy survey responsibility to the Secretary of Defense and require better privacy, completion tracking, noncompletion review, and performance-measure planning for financial readiness training.
Policy Domains
Substantive provisions
Identified Gains
- Members of the Armed Forces
- Junior enlisted servicemembers
- Mid-grade commissioned officers
- Military financial educators
Identified Costs
- Secretary of Defense
- Service secretaries
- Department of Defense training administrators
Sponsors
Legislative Progress
In CommitteeMs. Johnson of Texas (for herself and Mrs. Kiggans of …
Referred to the House Committee on Armed Services.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Junior enlisted servicemembers, Members of the Armed Forces receiving financial literacy training
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "Beneficiaries"
- → ['Members of the Armed Forces', 'Enlisted servicemembers', 'Commissioned officers']
- "Administrators"
- → ['Secretary of Defense', 'Service secretaries', 'Department of Defense training administrators']
Key Definitions
Terms defined in this bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology