A bill to require verification of the financial independence of financial services counselors in the Department of Defense.

This bill requires financial services counselors in the Department of Defense to submit annual financial disclosures to verify they are free from conflicts of interest. Under the new rules, counselors must agree to provide these disclosures, and the Department must review them to ensure independence before allowing counselors to provide financial advice. Additionally, the bill mandates that each Defense Secretary report to Congress within 180 days of enactment and annually on the percentage of counselors who have been cleared as conflict-free. These changes apply to all individuals providing financial counseling services within the Department of Defense.