; in 2021, over 110,000 military consumers submitted fraud reports to the Federal Trade Commission indicating a collective fraud loss of approximately $267 million, a 162-percent increase in fraud loss over 2020. (4) Veterans alone reported a collective fraud loss of $177 million in 2021, with members of the Armed Forces reporting a nearly $60 million total fraud loss in 2021. (5) The exponential increase in financial fraud targeting members of the Armed Forces, veterans, and military families demands a robust and coordinated interagency approach that examines current and emerging fraudulent schemes to safeguard the financial security of our military consumers. 3. Interagency task force to protect members, veterans, and military families from financial fraud (a) Establishment Not later than 90 days after the date of the enactment of this Act, the Secretary of Defense, in consultation with the Secretary of Veterans Affairs, shall establish an Interagency Task Force on Financial Fraud targeting members of the Armed Forces and veterans (referred to in this section as the Task Force ). (b) Membership The Task Force established under this section shall include representatives from the following: (1) The Department of Defense. (2) The Department of Veterans Affairs. (3) The Federal Trade Commission. (4) The Consumer Financial Protection Bureau. (5) The Department of Justice. (6) The Federal Communications Commission. (7) The Postal Inspection Service. (8) Three representatives, appointed by the Secretary of Defense in consultation with the Secretary of the Department of Veterans Affairs, of non-governmental organizations (at least one of whom is a representative of a veterans’ service organization) with expertise in identifying, preventing, and combatting financial fraud targeting members of the Armed Forces, veterans, and military families. (c) Consultation The Task Force shall regularly consult with the following: (1) Members of the Armed Forces, veterans, and members of military families that have been victims of