,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cfia  ,,in ,,the ,,house ,,of  
,,representatives  ,december #aj1       
#bjac,mr4 ,kildee introduced the        
following bill2 which was referred to   
the ,committee on ,armed ,services  ,a  
,,bill  ,to amend title #aj1 ,united    
,states ,code1 to require additional    
disclosures when lending to military    
members and their dependents1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,transparency  
in ,military ,lending ,act of #bjac4    
#b4 ,transparency in lending to military
 members and their dependents  7a7      
,transparency and disclosures ,section  
#ihg7;c7 of title #aj1 ,united ,states  
,code1 is amended by adding at the end  
the following3  7#c7 ,additional        
disclosures  7,a7 ,in general ,with     
respect to any extension of consumer    
credit described under paragraph 7#a71 a
 creditor shall provide to the member or
 dependent each of the following pieces 
of information1 orally and in writing1  

and the creditor may not issue the      
credit unless the member or dependent   
signs a separate acknowledgment next to 
each piece of information acknowledging 
that the member or dependent has read   
each such piece3 7i7 ,a statement that  
the ,department of ,defense and each    
service branch1 offers a variety of     
financial counseling services4  7ii7 ,a 
statement that other1 lower interest    
rate loans1 including potentially #j    
percent interest loans1 may be available
 through other financial institutions   
and military relief societies4  7iii7   
,contact information for the nearest    
,department of ,defense financial       
counseling office4  7iv7 ,the actual    
cost of the extension of credit1        
prepared as an amortization table       
showing what the cost to the member or  
dependent will be if paid off at        
different points over time4  7,b7       
,format of disclosures ,the disclosures 
required under this paragraph shall be  
made on a single sheet of paper and be  

in a bold1 #ad-point font4  7,c7 ,list  
of financial counseling offices ,the    
,secretary of ,defense shall prepare a  
list of ,department of ,defense         
financial counseling offices1 and make  
sure the list is available to creditors 
and the public4  4  7b7 ,transparency   
for payday loans and vehicle loans      
,solely for purposes of the disclosures 
required under section #ihg7;c77#c7 of  
title #aj1 ,united ,states ,code1 the   
,secretary of ,defense shall apply the  
definitions of payday loans and vehicle 
title loans under section #bcb4c of     
title #cb1 ,code of ,federal            
,regulations1 as providing that the     
terms of such loans are #aj years or    
less4