Alaska Military Members Get Financial Advice
Anchorage Daily News (AK)
August 22, 2012
After an unfortunate experience as a young military couple stationed in Italy, Holly Petraeus, the wife of the CIA director and former top U.S. commander in Iraq, now visits U.S. military installations to provide advice about finances and scams to service members. In her role as the director of the Office of Service Member Affairs at the federal Consumer Financial Protection Bureau (CFPB), Petraeus recently spoke to service members at Joint Base Elmendorf-Richardson in Anchorage. One of the missions of the CFPB is to educate military families so they can make better financial decisions. For example, a soldier in South Carolina took out a $1,600 auto-title loan, spread out over 32 months, that had a 400 percent interest rate that amounted to over $15,000. "That is what I don't want anybody to sign up for," said Petraeus.
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