Assistant director at the CFPB talks about protecting veterans and service members from predatory scams and institutions16 March 2014 - When you join the US military, you are taught about a lot of things: discipline, respect, loyalty. Yet there’s one thing that they don’t teach you in the military: how to protect your own finances.
It’s not surprising, then, that many veterans get the short end of the stick for everything from mortgages to car payments to student loans.
Congress has caught on. Veterans are one of the groups that are supposed to be protected by the Dodd-Frank Wall Street Reform and Consumer Protection Act. When creating the Consumer Financial Protection bureau (aka the CFPB), Congress asked that there be an office tasked specifically with addressing the needs and concerns of the US military. Since January 2011, the office has been led by Holly Petraeus, wife of retired US army general David Petraeus. Petraeus, who previously served as the director of the Better Business Bureau Military Line and has military life in her veins; her husband, brother, father, grandfather and great-grandfather all served.
We talked with Petraeus about issues her office has tackled in the past three years and the problems US service members still face today. read more>>>
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