,i #aag? ,,congress #b;d ,session ,h4 ,r4 #hcba ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #aa1 #bjbb,mr4 ,lyn* introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,arm$ ,s]vices1 & 9 addition to ! ,committee on ,vet]ans' ,affairs1 = 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 e/abli% a task =ce to protect memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families1 f f9ancial fraud4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,milit>y ,consum] ,protection ,task ,=ce ,act ( #bjbb4 #b4 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families cont9ue to be disproportionately t>get$ & impact$ by impo/] scams1 inve/m5t-relat$ s*emes1 fake *eck scams1 vet]ans' *>ity scams1 p5sion poa*+1 & o!r me?ods ( f9ancial fraud4 7#b7 ,f9ancial fraud attacks t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y dep5d5ts increas$ by #fi p]c5t f #bjbj to #bjba4 7#c7 ,9 #bjbj1 m ?an #ef1jjj milit>y consum]s submitt$ fraud reports to ! ,f$]al ,trade ,commission indicat+ a collective fraud loss ( approximately #ajb million2 9 #bjba1 ov] #aaj1jjj milit>y consum]s submitt$ fraud reports to ! ,f$]al ,trade ,commission indicat+ a collective fraud loss ( approximately #bfg million1 a #afb p]c5t increase 9 fraud loss ov] #bjbj4 7#d7 ,vet]ans alone report$ a collective fraud loss ( #agg million 9 #bjba1 ) memb]s ( ! ,arm$ ,=ces report+ a ne>ly #fj million total fraud loss 9 #bjba4 7#e7 ,! expon5tial increase 9 f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families dem&s a robu/ & coord9at$ int]ag5cy approa* t exam9es curr5t & em]g+ fraudul5t s*emes to safegu>d ! f9ancial security ( our milit>y consum]s4 #c4 ,int]ag5cy task =ce to protect memb]s1 vet]ans1 & milit>y families f f9ancial fraud 7a7 ,e/abli%m5t ,n lat] ?an #ij days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,def5se1 9 consultation ) ! ,secret>y ( ,vet]ans ,affairs1 %all e/abli% an ,int]ag5cy ,task ,=ce on ,f9ancial ,fraud t>get+ memb]s ( ! ,arm$ ,=ces & vet]ans 7ref]r$ to 9 ?is section z ! ,task ,=ce74 7b7 ,memb]%ip ,! ,task ,=ce e/abli%$ "u ?is section %all include repres5tatives f ! foll[+3 7#a7 ,! ,dep>tm5t ( ,def5se4 7#b7 ,! ,dep>tm5t ( ,vet]ans ,affairs1 7#c7 ,! ,f$]al ,trade ,commission4 7#d7 ,! ,consum] ,f9ancial ,protection ,bureau4 7#e7 ,! ,dep>tm5t ( ,ju/ice4 7#f7 ,! ,f$]al ,communications ,commission4 7#g7 ,! ,po/al ,inspection ,s]vice4 7#h7 ,?ree repres5tatives1 appo9t$ by ! ,secret>y ( ,def5se 9 consultation ) ! ,secret>y ( ! ,dep>tm5t ( ,vet]ans ,affairs1 ( non-gov]nm5tal organizations 7at lea/ "o ( :om is a repres5tative ( a vet]ans' s]vice organization7 ) exp]tise 9 id5tify+1 prev5t+1 & combatt+ f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7c7 ,consultation ,! ,task ,=ce %all regul>ly consult ) ! foll[+3 7#a7 ,memb]s ( ! ,arm$ ,=ces1 vet]ans1 & memb]s ( milit>y families t h be5 victims ( f9ancial fraud4 7#b7 ,relevant ,f$]al ag5cies & dep>tm5ts t are n repres5t$ on ! ,task ,=ce4 7#c7 ,o!r relevant public & private sector /akehold]s1 includ+ ,/ate & local law en=cem5t ag5cies1 f9ancial s]vices provid]s1 te*nology companies1 & social m$ia plat=ms4 7d7 ,meet+s ,! ,task ,=ce %all n meet less frequ5tly ?an ?ree times p] cal5d> ye>4 7e7 ,purpose ,! purpose ( ! ,task ,=ce is to id5tify & exam9e curr5t & develop+ me?ods ( f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families & issue recomm5dations to enhance ef=ts und]tak5 by ,f$]al ag5cies to id5tify1 prev5t1 & combat su* f9ancial fraud4 7f7 ,duties ,! duties ( ! ,task ,=ce %all include ! foll[+3 7#a7 ,collect+ & review+ robu/ data p]ta9+ to m$ical bill+1 cr$it report+1 debt collection1 & o!r s]i\s f9ancial *all5ges fac+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7#b7 ,id5tify+ & review+ curr5t me?ods ( f9ancial exploitation t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families1 includ+-- 7,a7 impo/] or phi%+ scams2 7,b7 inve/m5t-relat$ fraud2 7,c7 p5sion poa*+2 7,d7 vet]ans b5efit fraud2 7,e7 fraudul5t (f]s p]ta9+ to employm5t or bus9ess opportunities2 7,f7 pr$atory l5d+2 7,g7 vet]an *>ity s*emes2 7,h7 =eign money (f]s & fake *eck scams2 7,i7 mortgage =eclosure relief & debt managem5t fraud2 7,j7 milit>y allotm5t sy/em abuse2 & 7,k7 milit>y records fraud4 7#c7 ,id5tify+ & evaluat+ ! new f9ancial risks t em]g+ f9ancial te*nologies1 includ+ buy-n[-pay-lat] cr$it & digital paym5t ecosy/ems1 may pres5t to memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7#d7 ,evaluat+ ! efficacy ( curr5t ,f$]al programs1 educational campaigns1 policies1 & /atutes1 includ+ ! ,milit>y ,l5d+ ,act & ! ,s]vicememb]s ,civil ,relief ,act1 9 prev5t+ & combatt+ f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7#e7 ,develop+ recomm5dations to enhance ef=ts ( ,f$]al ag5cies to detect1 prev5t1 & combat f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7g7 ,report ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act & annually !reaft]1 ! ,task ,=ce %all submit to ! appropriate congressional committees a report on its f9d+s to date & recomm5dations to enhance ! ef=ts ( ,f$]al ag5cies to id5tify1 prev5t1 & combat f9ancial fraud t>get+ memb]s ( ! ,arm$ ,=ces1 vet]ans1 & milit>y families4 7h7 ,appropriate congressional committees def9$ ,9 ?is section1 ! t]m appropriate congressional committees means ! foll[+3 7#a7 ,! ,committee on ,ov]sight & ,re=m ( ! ,h\se ( ,repres5tatives4 7#b7 ,! ,committee on ,arm$ ,s]vices ( ! ,h\se ( ,repres5tatives4 7#c7 ,! ,committee on ,vet]ans' ,affairs ( ! ,h\se ( ,repres5tatives4 7#d7 ,! ,committee on ,homel& ,security & ,gov]nm5tal ,affairs ( ! ,s5ate4 7#e7 ,! ,committee on ,arm$ ,s]vices ( ! ,s5ate4 7#f7 ,! ,committee on ,vet]ans' ,affairs ( ! ,s5ate4