Military Financial Literacy Accountability Act

# Military Financial Literacy Accountability Act (HR 6717) Summary **What the Bill Would Do** This bill would require the Department of Defense to establish and implement financial literacy programs for active duty service members, veterans, and their families. The legislation would create accountability measures to ensure these programs are effective, likely including reporting requirements and performance standards that the DOD would need to meet and document. **Who It Affects** The bill would impact millions of people, including active duty military personnel, reserves, National Guard members, veterans, and military families. Financial literacy programs could help these groups better manage money, understand benefits, plan for retirement, and avoid predatory lending or financial scams. **Current Status** As of now, HR 6717 is in committee, meaning it has been introduced but has not yet advanced to a full vote in the House of Representatives.

The bill was sponsored by Rep. Julie Johnson (D-TX). For the bill to become law, it would need to pass committee review, gain House approval, pass the Senate, and receive the President's signature.