Section 1 Short title
This Act may be cited as the “Financial Protection for Our Military Families Act”.
Financial Protection for Our Military Families Act
A BILL
To amend the Consumer Financial Protection Act of 2010 to extend the supervisory authority of the Bureau of Consumer Financial Protection to include assessing compliance with the Military Lending Act.
Sec. 2 Bureau examination authority with respect to Military Lending Act compliance
The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is amended—
in section 1024(b)(1)(A), by inserting before the semicolon the following: “and section 987 of title 10, United States Code”;
in section 1025(b)(1)—
by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively; and
by inserting after subparagraph (A) the following:
“(B) with respect to insured depository institutions, assessing compliance with the requirements of section 987 of title 10, United States Code;”
in section 1026(c)(1), by inserting before the period the following: “and with the requirements of section 987 of title 10, United States Code, of insured depository institutions described in subsection (a)”.