A bill to require verification of the financial independence of financial services counselors in the Department of Defense.
12/7/2023, 5:06 PMSummary of Bill S 2528
Bill 118 s 2528, also known as the Financial Independence Verification Act, is a proposed piece of legislation that aims to ensure that financial services counselors within the Department of Defense are financially independent. The bill requires these counselors to undergo a verification process to confirm that they are not financially dependent on any individual or entity that could potentially create a conflict of interest.The purpose of this bill is to uphold the integrity and trustworthiness of financial services counselors who provide important financial advice and assistance to members of the military and their families. By requiring verification of financial independence, the bill seeks to prevent any potential conflicts of interest that could compromise the quality and impartiality of the financial guidance provided by these counselors.
If passed, the Financial Independence Verification Act would establish a process for conducting thorough background checks and financial assessments of financial services counselors within the Department of Defense. This process would help to ensure that these counselors are free from any financial ties that could influence their advice or recommendations. Overall, the bill aims to promote transparency, accountability, and trust in the financial services provided to military personnel and their families. It underscores the importance of maintaining the highest standards of professionalism and integrity within the Department of Defense's financial counseling services.
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Current Status of Bill S 2528
Bill S 2528 is currently in the status of Bill Introduced since July 26, 2023. Bill S 2528 was introduced during Congress 118 and was introduced to the Senate on July 26, 2023. Bill S 2528's most recent activity was Read twice and referred to the Committee on Armed Services. as of July 26, 2023Bipartisan Support of Bill S 2528
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 2528
Primary Policy Focus
Armed Forces and National SecurityAlternate Title(s) of Bill S 2528
A bill to require verification of the financial independence of financial services counselors in the Department of Defense.A bill to require verification of the financial independence of financial services counselors in the Department of Defense.Comments
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Sponsors and Cosponsors of S 2528
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