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 Home > News & Policies > September 2006

For Immediate Release
Office of the Press Secretary
September 29, 2006

President Signs S. 418, the "Military Personnel Financial Services Protection Act"

On Friday, September 29, 2006, the President signed into law:

S. 418, the "Military Personnel Financial Services Protection Act," which is intended to protect military service members from "predatory sales practices for financial products and the sale of inappropriate financial products" on U.S. military installations located in this country and overseas.

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President George W. Bush signs S. 418, The Military Personnel Financial Services Protection Act, in the Oval Office Friday, Sept. 29, 2006. Standing with President Bush are bill sponsors Senator Mike Enzi, R-Wyo., left and Representative Geoff Davis, R-Ky. The legislation protects America’s armed forces by banning unscrupulous companies from military bases. It also prohibits the selling of life insurance products military personnel and their dependents unless specified written disclosures have been provided. White House photo by Eric Draper