today I introduce the Servicemember Housing Protection Act, and I thank Senators Durbin, Sherrod Brown, Whitehouse, and Begich for joining me as original cosponsors of this bill. In 1940, as World War II escalated across the globe, Congress enacted the Soldiers' and Sailors' Civil Relief Act ``to protect those who have been obliged to drop their own affairs to take up the burdens of the nation.'' In 2003, Congress passed a new version of this law to reflect the new challenges of post-9/11 service and renamed it the Servicemembers Civil Relief Act, SCRA. In 2010, in order to address the country's high foreclosure rates and their impact on servicemembers, Congress further amended this law to enhance foreclosure protections. Also in 2010, when it became evident that military families needed an entity to serve as a watchdog, provide education, and help monitor and respond to concerns, questions, and complaints about consumer financial products and services, I led the bipartisan effort during the Dodd- Frank act debate to create a new Office of Servicemember Affairs within the Consumer Financial Protection Bureau, CFPB. Our country has a strong tradition of ensuring that the laws that protect our servicemembers keep pace with the challenges that they face.…
On the recordMay 15, 2012
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