H.R. 8056 — Military Financial Literacy Act of 2026

This section amends the financial literacy training program for members of the armed forces by adding to the required topics practices relating to financial management, home buying and selling, renting during changes of permanent station, rental planning, home loans available through Department of Veterans Affairs programs, and other financial services routinely offered with private sector home loans. This section further requires the Secretary of Defense, not later than one year after enactment, to establish a program to provide individualized one-on-one financial and housing counseling tailored to each member's needs on (1) credit management; (2) budgeting; (3) anti-predatory lending practices; (4) changes of permanent station and rental planning; (5) VA home loans; and (6) protections under the Servicemembers Civil Relief Act and related laws. (To implement the program, the Secretary shall seek an agreement with a HUD-approved counseling agency that is a 501(c)(19) tax-exempt veteran service organization with expertise in financial literacy, housing stability, and veteran home loan benefits and that can train and certify HUD-certified housing counselors for the military community.) This section also authorizes the Secretary to issue implementing regulations and requires a report to the armed services committees, not later than two years after the counseling services are established, on implementation details including the number of members counseled on housing stability, home loan benefits, or rental planning; counseling completion rates; and metrics on financial stress, housing instability, and risk mitigation for participants.