Consumer Bureau Reaches Out to Military Families

New York Times
September 7, 2011
Wyatt, Ed

Regulators took note that military households were proving to be especially vulnerable to financial rip-offs following the financial crisis. After gathering information about unscrupulous mortgage lending practices, deceptive car loans, and other abusive financial products, the newly opened Consumer Financial Protection Bureau wants to hear from military families about what they found to be the best financial products and services tailored to them. According to the assistant director of the CFPB's Office of Servicemember Affairs, Holly Petraeus, the division is looking for information on homeowner assistance programs, such as loan modification services; financial education opportunities; and marketing and communication strategies. "Military families face unique challenges especially when it comes to their finances," Petraeus says. "By identifying the products and services that aim to assist their particular needs, our office will be able to better serve service members and their families." Comments from the public will be accepted via e-mail through Sept. 20.
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