Fair Debt Collection Practices for Servicemembers Act

Floor Speech

BREAK IN TRANSCRIPT

Ms. DEAN. Mr. Speaker, I thank the good gentleman from Guam for yielding.

I rise in support of H.R. 5003, the Fair Debt Collection Practices for Servicemembers Act.

Every day we are reminded of the significant sacrifices our troops make to protect us, and as Members of Congress we have a responsibility to protect those who protect us.

The Fair Debt Collection Practices for Servicemembers Act works to live up to this responsibility by addressing abusive debt collection practices specifically targeting servicemembers.

According to the Consumer Financial Protection Bureau, approximately 40 percent of the complaints filed by servicemembers concern debt collection, as compared to 26 percent by nonservicemembers. These debt collection practices are manipulative and have negative career implications for soldiers and their families.

Egregious practices include: Contacting the servicemembers' chain of command in order to extract payment, threatening punishment through the Uniform Code of Military Justice, threatening rank reduction, or threatening to revoke a soldier's security clearances.

Unfortunately, these practices do not stop with the servicemember. Some debt collectors also target military spouses, unfairly burdening our military families who sacrifice so much for us.

These tactics are egregious and must stop. Our servicemen and -women make extraordinary sacrifices for all of us. The last thing they need is harassment from debt collectors who take advantage of their service, which is why I am pleased to rise in support of this bill and to have had the chance to work with the entire Financial Services Committee, the chair, the ranking member, and the members.

Specifically, my bill amends the Fair Debt Collection Practices Act and prohibits a debt collector from communicating with a servicemember's chain of command or department for the purpose of threatening to have their rank reduced or threatening to revoke security clearance.

This legislation will help ensure that our military families are not unnecessarily targeted for their service to our country and shield them from bad practices. I am in awe of our servicemembers' spirit of service. We must do our part to service them.

I thank my colleagues, Representative Stivers and Representative Davidson, a fellow member of the Financial Services Committee and an Army veteran with years of service, for cosponsoring and supporting this bill. I urge all Members to support it.

BREAK IN TRANSCRIPT

Ms. DEAN. Mr. Speaker, on that I demand the yeas and nays.

The yeas and nays were ordered.

BREAK IN TRANSCRIPT

Source