ADDITIONAL ENHANCEMENTS OF PROTECTIONS ON CONSUMER CREDIT FOR MEMBERS OF THE ARMED FORCES AND THEIR DEPENDENTS.

SEC. 661. ADDITIONAL ENHANCEMENTS OF PROTECTIONS ON CONSUMER CREDIT FOR MEMBERS OF THE ARMED FORCES AND THEIR DEPENDENTS. (a) Protections Against Differential Treatment on Consumer Credit Under State Law.—Subsection (d)(2) of section 987 of title 10, United States Code, is amended— (1) in subparagraph (A), by inserting “any consumer credit or” before “loans”; and (2) in subparagraph (B), by inserting “covering consumer credit” after “State consumer lending protections”. (b) Regular Consultations on Protection.—Subsection (h)(3) of such section is amended— (1) in the matter preceding subparagraph (A), by inserting “and not less often than once every two years thereafter,” after “under this subsection,”; and (2) by striking subparagraph (E) and inserting the following new subparagraph: “(E) The Bureau of Consumer Financial Protection.” . (c) [10 U.S.C. 987 note] Effective Date.— (1) Modification of regulations.—The Secretary of Defense shall modify the regulations prescribed under subsection (h) of section 987 of title 10, United States Code, to take into account the amendments made by subsection (a). (2) Effective date.—The amendments made by subsection (a) shall take effect on— (A) the date that is one year after the date of the enactment of this Act; or (B) such earlier date as the Secretary shall specify in the modification of regulations required by paragraph (1). (3) Publication of earlier date.—If the Secretary specifies an earlier effective date for the amendments made by subsection (a) pursuant to paragraph (2)(B), the Secretary shall publish notice of such earlier effective date in the Federal Register not later than 90 days before such earlier effective date.