Banking and Finance Law Daily Wrap Up, FAIR CREDIT REPORTING—Unanimous Senate passes Servicemembers’ Credit Monitoring Enhancement Act, (Mar 10, 2026)

By Joe Cox, J.D.,

The bill extends credit monitoring protection from active-duty service members to all service members, regardless of duty status.

Last week, the Senate unanimously passed the Servicemembers’ Credit Monitoring Enhancement Act. The bill was introduced by Sens. Kevin Cramer (R-N.D.) and Amy Klobuchar (D-Minn.) last July.

The bill expands free credit monitoring from only applying, as it currently does, to active-duty service members and full-time National Guard members. The bill would extend credit monitoring to all service members, including non-active-duty reservists and traditional National Guard members.

Cramer termed the bill “an important step to protecting the financial security of the members of our armed forces.” Cramer further stated, “We just want to ensure the men and women of the military have full access to credit monitoring services that will certainly help keep their information secure.”

Klobuchar posited that the bill “will improve the financial security of military families and give them greater peace of mind. Servicemembers are heroes who put their lives on the line for our nation, and we must support them in every way we can.”

The bill will go on to the House of Representatives next.

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