,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #ccaj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #bc1 #bjac,mr4
 ,c>twright 7= himself1 ,mr4 ,connolly1 
,mr4 ,grayson1 ,mr4 ,cony]s1 ,mr4       
,grijalva1 ,ms4 ,kaptur1 ,ms4 ,kelly (  
,ill9ois1 ,ms4 ,lee ( ,cali=nia1 ,mr4   
,takano1 ,ms4 ,slaught]1 ,ms4 ,eddie    
,b]nice ,johnson ( ,texas1 ,mr4         
,mc,govern1 ,ms4 ,%ea-,port]1 ,mr4      
,moran1 ,mr4 ,f>r1 ,mr4 ,cumm+s1 ,mr4   
,h9ojosa1 ,mr4 ,lewis1 ,mrs4 ,negrete   
,mc,leod1 ,ms4 ,spei]1 ,mr4 ,?ompson (  
,mississippi1 ,mr4 ,langev91 ,mr4       
,blum5au]1 ,ms4 ,fudge1 ,mr4 ,george    
,mill] ( ,cali=nia1 ,mr4 ,coh51 ,mr4    
,g5e ,gre5 ( ,texas1 ,ms4 ,de,lauro1    
,mr4 ,eny>t1 ,mr4 ,pocan1 ,mr4 ,lyn*1   
,ms4 ,hahn1 ,ms4 ,mc,collum1 ,mr4       
,waxman1 ,mr4 ,delaney1 ,mr4 ,nadl]1    
,ms4 ,mi*elle ,lujan ,gri%am ( ,new     
,mexico1 ,ms4 ,norton1 ,mrs4            
,kirkpatrick1 & ,mr4 ,l[5?al7 introduc$ 
! foll[+ bill2 :i* 0 ref]r$ to !        
,committee on ,f9ancial ,s]vices1 & 9   

addition to ! ,committees on ,vet]ans'  
,affairs1 ,arm$ ,s]vices1 & ,ov]sight & 
,gov]nm5t ,re=m1 = a p]iod to be        
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to provide =       
additional protections & disclosures to 
consum]s :5 f9ancial products or s]vices
 are relat$ to ! consum]s' milit>y or   
,f$]al p5sions1 & = o!r purposes4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,annuity ,safety & ,security ,"u        
,reasonable ,en=cem5t ,act ( #bjac or ! 
,,assure ,act ( #bjac4  #b4             
,consid]ation ( ,f$]al & milit>y p5sions
 9 ext5sions ( cr$it ,! ,tru? 9 ,l5d+   
,act 7#ae ,u4,s4,c4 #afja et seq47 is   
am5d$-- 7#a7 9 section #ajd7c71 by      
ins]t+ aft] o!r ?an ! foll[+3 paym5ts   
describ$ "u section #abf7;a7 &2  7#b7 by
 ins]t+ aft] section #abe ! foll[+3     
#abf4 ,paym5ts 9 consid]ation ( ,f$]al &
 milit>y p5sions  7a7 ,disclosure ,!    
,bureau %all issue regulations requir+  

any paym5t to a b5efit recipi5t1 :e!r or
 n su* paym5t is an ext5sion ( cr$it1 t 
dim9i%es ! b5efit recipi5t's ability to 
control ! paym5ts f _! ,f$]al or milit>y
 p5sion 9 any way1 to be treat$ z an    
ext5sion ( cr$it = purposes ( !         
disclosures requir$ "u ?is title4  7b7  
,int]e/ rate cap ,) respect to a paym5t 
to a b5efit recipi5t describ$ "u        
subsection 7a7-- 7#a7 if su* paym5t is  
an ext5sion ( consum] cr$it1 a cr$itor  
may n impose an annual p]c5tage rate (  
int]e/ great] ?an ! ,f$]al funds rate   
plus #f p]c5t2 &  7#b7 if su* paym5t is 
n an ext5sion ( consum] cr$it1 ! ,bureau
 %all issue regulations requir+ t !     
aggregate am\nt ( ca% & prop]ty paid 9  
ex*ange = su* paym5t may n exce$ an     
am\nt t is equival5t to ! int]e/ rate   
describ$ "u p>agraph 7#a74  7c7         
,def9itions ,= purposes ( ?is section3  
7#a7 ,b5efit recipi5t ,! t]m b5efit     
recipi5t means a p]son :o is entitl$ to 
paym5ts "u a ,f$]al or milit>y p5sion4  
7#b7 ,f$]al or milit>y p5sion ,! t]m    

,f$]al or milit>y p5sion means-- 7,a7 a 
b5efit describ$ "u section #ecja7;a7 (  
title #ch1 ,unit$ ,/ates ,code2  7,b7   
retir$ pay to an enli/$ memb] ( ! ,army1
 ,navy1 ,air ,=ce1 or ,m>9e ,corps2 &   
7,c7 an annuity describ$ "u section     
#hcde or #hdfe ( title #e1 ,unit$ ,/ates
 ,code4  7#c7 ,f$]al funds rate ,=      
purposes ( ?is section1 ! t]m ,f$]al    
funds rate means ! ,f$]al funds rate    
publi%$ 9 ! ,f$]al ,res]ve ,/ati/ical   
,release on select$ int]e/ rates 7daily 
or weekly71 & commonly ref]r$ to z !    
,h4#ae release 7or any successor        
publication74  2 &  7#c7 9 ! table (    
cont5ts = *apt] #b ( su* ,act1 by ins]t+
 aft] ! item relat+ to section #abe !   
foll[+3  #abf4 ,consid]ation ( ,f$]al   
p5sions 9 ext5sions ( cr$it  4  #c4     
,cl>ification ( assignm5ts2 private     
rights ( actions  7a7 ,vet]ans b5efits  
,section #ecja ( title #ch1 ,unit$      
,/ates ,code1 is am5d$ by add+ at ! end 
! foll[+3  7f7 ,private "r ( action     
7#a7 ,9 g5]al ,a b5efit recipi5t may br+

 an action aga9/ a p5sion assignee 9 !  
appropriate ,f$]al or ,/ate c\rt &      
recov]-- 7,a7 ?ree times ! damages      
suff]$ due to ! assignm5t made 9        
violation ( ?is section2  7,b7 c\rt     
co/s2 &  7,c7 reasonable attorneys' fees
 & exp5ses4  7#b7 ,def9itions ,=        
purposes ( ?is subsection3 7,a7 ,b5efit 
recipi5t ,! t]m b5efit recipi5t means a 
p]son ) respect to :i* paym5ts ( b5efits
 describ$ "u ?is section are due or are 
to become due4  7,b7 ,p5sion assignee ,)
 respect to a b5efit recipi5t1 ! t]m    
p5sion assignee means a p]son :o has be5
 assign$ ! b5efits ( ! b5efit recipi5t 9
 violation ( ?is section4  4  7b7       
,milit>y retir$ pay ,section #gja (     
title #cg1 ,unit$ ,/ates ,code1 is am5d$
 by add+ at ! end ! foll[+3  7f7        
,cl>ification on non-,assignm5t ( retir$
 pay = enli/$ memb]s  7#a7 ,9 g5]al ,=  
purposes ( ?is subsection 7c71 9 any    
case :]e an enli/$ memb] is entitl$ to  
retir$ pay & ent]s into an agreem5t )   
ano!r p]son "u :i* agreem5t su* o!r     

p]son acquires = consid]ation ! "r to   
receive paym5t ( su* retir$ pay1 :e!r by
 paym5t f ! memb] to su* o!r p]son1     
deposit into an acc\nt f :i* su* o!r    
p]son may make )drawals1 or o!rwise1 su*
 agreem5t %all be deem$ to be an        
assignm5t & is prohibit$4 ,any agreem5t 
or arrangem5t = collat]al = security =  
an agreem5t t is prohibit$ "u ! previ\s 
s5t5ce is also prohibit$4  7#b7 ,private
 "r ( action  7,a7 ,9 g5]al ,a retir$   
pay recipi5t may br+ an action aga9/ a  
retir$ pay assignee 9 ! appropriate     
,f$]al or ,/ate c\rt & recov]-- 7i7 ?ree
 times ! damages suff]$ due to !        
assignm5t ( retir$ pay made 9 violation 
( ?is section2  7ii7 c\rt co/s2 &  7iii7
 reasonable attorneys' fees & exp5ses4  
7,b7 ,def9itions ,= purposes ( ?is      
subsection3 7i7 ,retir$ pay recipi5t ,! 
t]m retir$ pay recipi5t means a p]son ) 
respect to :i* retir$ pay describ$ "u   
?is section is due or is to become due4 
7ii7 ,retir$ pay assignee ,) respect to 
a retir$ pay recipi5t1 ! t]m retir$ pay 

assignee means a p]son :o has be5       
assign$ or allott$ ! retir$ pay ( !     
retir$ pay recipi5t 9 violation ( ?is   
section4  4  7c7 ,,csrs annuities       
,section #hcde7;h7 ( title #e1 ,unit$   
,/ates ,code1 is am5d$ to read z foll[s3
  7h7 ,non-,assignm5t ( annuities  7#a7 
,9 g5]al ,an individual entitl$ to an   
annuity f ! ,fund may n make allotm5ts  
or assignm5ts ( am\nts f su* annuity4   
7#b7 ,con/ruction ,= purposes ( ?is     
subsection-- 7,a7 9 any case :]e an     
individual entitl$ to an annuity f !    
,fund ent]s into an agreem5t ) ano!r    
p]son "u :i* agreem5t su* o!r p]son     
acquires = consid]ation ! "r to receive 
paym5t ( su* annuity1 :e!r by paym5t f !
 individual to su* o!r p]son1 deposit   
into an acc\nt f :i* su* o!r p]son may  
make )drawals1 or o!rwise1 su* agreem5t 
%all be deem$ to be an assignm5t & is   
prohibit$2 &  7,b7 any agreem5t or      
arrangem5t = collat]al = security = an  
agreem5t t is prohibit$ "u subp>agraph  
7,a7 is also prohibit$4  7#c7 ,exception

 ,p>agraphs 7#a7 & 7#b7 %all n apply to 
am\nts us$ to pay dues to unions or o!r 
employee organizations4  7#d7 ,private  
"r ( action  7,a7 ,9 g5]al ,an annuity  
recipi5t may br+ an action aga9/ an     
annuity assignee 9 ! appropriate ,f$]al 
or ,/ate c\rt & recov]-- 7i7 ?ree times 
! damages suff]$ due to ! assignm5t made
 9 violation ( ?is subsection or !      
regulations issu$ pursuant to ?is       
subsection2  7ii7 c\rt co/s2 &  7iii7   
reasonable attorneys' fees & exp5ses4   
7,b7 ,def9itions ,= purposes ( ?is      
p>agraph3 7i7 ,annuity assignee ,)      
respect to an annuity recipi5t1 ! t]m   
annuity assignee means a p]son :o has   
be5 assign$ or allott$ all or "p ( an   
annuity f ! ,fund 9 violation ( ?is     
subsection or ! regulations issu$       
pursuant to ?is subsection4  7ii7       
,annuity recipi5t ,! t]m annuity        
recipi5t means an individual entitl$ to 
an annuity f ! ,fund4  4  7d7 ,,f]s     
annuities ,section #hdfe7;b7 ( title #e1
 ,unit$ ,/ates ,code1 is am5d$ to read z

 foll[s3  7b7 ,non-,assignm5t (         
annuities  7#a7 ,9 g5]al ,an individual 
entitl$ to an annuity f ! ,fund may n   
make allotm5ts or assignm5ts ( am\nts f 
su* annuity4  7#b7 ,con/ruction ,=      
purposes ( ?is subsection-- 7,a7 9 any  
case :]e an individual entitl$ to an    
annuity f ! ,fund ent]s into an agreem5t
 ) ano!r p]son "u :i* agreem5t su* o!r  
p]son acquires = consid]ation ! "r to   
receive paym5t ( su* annuity1 :e!r by   
paym5t f ! individual to su* o!r p]son1 
deposit into an acc\nt f :i* su* o!r    
p]son may make )drawals1 or o!rwise1 su*
 agreem5t %all be deem$ to be an        
assignm5t & is prohibit$2 &  7,b7 any   
agreem5t or arrangem5t = collat]al =    
security = an agreem5t t is prohibit$ "u
 subp>agraph 7,a7 is also prohibit$4    
7#c7 ,exception ,p>agraphs 7#a7 & 7#b7  
%all n apply to am\nts us$ to pay dues  
to unions or o!r employee organizations4
  7#d7 ,private "r ( action  7,a7 ,9    
g5]al ,an annuity recipi5t may br+ an   
action aga9/ an annuity assignee 9 !    

appropriate ,f$]al or ,/ate c\rt &      
recov]-- 7i7 ?ree times ! damages suff]$
 due to ! assignm5t made 9 violation (  
?is subsection or ! regulations issu$   
pursuant to ?is subsection2  7ii7 c\rt  
co/s2 &  7iii7 reasonable attorneys'    
fees & exp5ses4  7,b7 ,def9itions ,=    
purposes ( ?is p>agraph3 7i7 ,annuity   
assignee ,) respect to an annuity       
recipi5t1 ! t]m annuity assignee means a
 p]son :o has be5 assign$ or allott$ all
 or "p ( an annuity f ! ,fund 9         
violation ( ?is subsection or !         
regulations issu$ pursuant to ?is       
subsection4  7ii7 ,annuity recipi5t ,!  
t]m annuity recipi5t means an individual
 entitl$ to an annuity f ! ,fund4  4    
#d4 ,bureau ( ,consum] ,f9ancial        
,protection provisions  7a7 ,regulation 
( ,f$]al or milit>y p5sion-,relat$      
products ,section #ajcb7;f7 ( ! ,consum]
 ,f9ancial ,protection ,act ( #bjaj 7#ab
 ,u4,s4,c4 #eecb7;f77 is am5d$ by add+  
at ! end ! foll[+3  7g7 ,regulation (   
,f$]al or milit>y p5sion-,relat$        

products  7#a7 ,9 g5]al ,! ,bureau %all 
issue regulations to require a p]son    
(f]+ a ,f$]al or milit>y p5sion-relat$  
product to provide additional           
disclosures :5 adv]tis+ or sell+ su*    
product1 suffici5t to all[ consum]s to  
und]/& h[ _! p5sion relates to !        
product4  7#b7 ,def9itions def9$ ,=     
purposes ( ?is subsection3 7,a7 ,f$]al  
or milit>y p5sion ,! t]m ,f$]al or      
milit>y p5sion means-- 7i7 a b5efit     
describ$ "u section #ecja7;a7 ( title   
#ch1 ,unit$ ,/ates ,code2  7ii7 retir$  
pay to an enli/$ memb] ( ! ,army1 ,navy1
 ,air ,=ce1 or ,m>9e ,corps2 &  7iii7 an
 annuity describ$ "u section #hcde or   
#hdfe ( title #e1 ,unit$ ,/ates ,code4  
7,b7 ,f$]al or milit>y p5sion-relat$    
product ,! t]m ,f$]al or milit>y        
p5sion-relat$ product means a f9ancial  
product or s]vice relat$ to a ,f$]al or 
milit>y p5sion1 includ+ any ext5sion (  
cr$it if ! cr$itor1 :5 det]m9+ a        
consum]'s ability to repay ! ext5sion ( 
cr$it1 takes ! p5sion into consid]ation4

  4  7b7 ,/udy by ! ,bureau  7#a7 ,9    
g5]al ,! ,bureau ( ,consum] ,f9ancial   
,protection %all c>ry out a /udy (      
f9ancial products & s]vices t t>get     
milit>y retirees & ,f$]al employee      
retirees4  7#b7 ,report ,n lat] ?an !   
end ( ! #c-mon? p]iod beg9n+ on ! date (
 ! enactm5t ( ?is ,act1 ! ,bureau %all  
issue a report to ! ,congress conta9+   
all f9d+s & det]m9ations made 9 c>ry+   
out ! /udy requir$ "u ?is subsection4