The proposed bill, titled the "Safeguarding American Veteran Empowerment Act" (SAVE ACT), aims to regulate businesses that provide assistance to veterans regarding their benefits claims. It introduces a new chapter (Chapter 61) to Title 6 of the General Laws, establishing definitions related to compensation and veterans' benefits matters. Key provisions include prohibiting individuals from receiving compensation for referring veterans to others for assistance, requiring written agreements that specify compensation terms based on successful outcomes, and mandating disclosures that inform veterans about the potential availability of free services from federally chartered organizations.

Additionally, the bill outlines prohibited activities for businesses, such as the use of international call centers for processing veterans' personal information and accessing their accounts without consent. It establishes penalties for violations, categorizing them as unfair or deceptive practices, with civil penalties enforced by the Rhode Island attorney general's office. The bill emphasizes the protection of veterans' rights and information while ensuring that they are aware of their options for assistance, and it will take effect upon passage.