Political Quotes

“Mr. President, today, along with Senators Brown, Tester, Blumenthal, Kaine, Duckworth, Warren, Baldwin, Franken, Klobuchar, Cortez Masto, Van Hollen, and Menendez, I am reintroducing the Military Consumer Enforcement Act to further strengthen consumer protections for service members. Our Nation has a strong tradition of working to protect our service members while they sacrifice to keep our Nation, safe. Building on these efforts, Congress passed the Soldiers' and Sailor's Civil Relief Act in 1940 to provide essential financial protections for service members to ``enable such persons to devote their entire energy to the defense needs of the Nation.'' Now called the Servicemembers Civil Relief Act (SCRA), this law provides such protections as prohibiting the eviction of service members and their dependents from rental or mortgaged properties and capping the interest at 6% on debts incurred prior to an individual entering active duty military service. Despite the importance of the SCRA's protections to our service members, enforcement of this critical law has been inconsistent and subject to the discretion of our financial regulators. For example, according to a July 2012 report from the Government Accountability Office, the estimated percentage of depository institutions that serviced mortgages that were examined for SCRA compliance varied by year between 2007 through 2011 at a rate of 4% in 2007, 17% in 2008, 18% in 2009, 26% in 2010, and 15% in 2011.…”