Protecting our Service Members and their Families from Predatory Financial Practices Act

This bill requires financial counselors within the Department of Defense to submit annual financial disclosures to ensure they are free from conflicts of interest. It mandates that these counselors provide services only after agreeing to these disclosures and allows the Secretary of Defense to block any counselor found to have a conflict until the issue is resolved. Additionally, the bill requires the Department of Defense to report to Congress annually on the percentage of counselors who have been verified as free from conflicts. These measures aim to protect military service members and their families from potential predatory financial practices by ensuring the independence of the financial advisors they receive.