WASHINGTON — The Consumer Financial Protection Bureau said Wednesday it is teaming up with military lawyers to track consumer financial complaints from military families.
The CFPB and the Judge Advocate Generals of the Army, Marine Corps, Navy, Air Force and Coast Guard today announced an agreement through a "joint statement of principles" to provide stronger protections for service members and their families relating to consumer financial products.
The Judge Advocate Generals and the CFPB will work together to identify potential violations of consumer law, and establish a single point of contact within the CFPB's enforcement division that will allow the JAG Corps to share information about consumer complaints from military families.
Holly Petraeus, the CFPB's assistant director for the Office of Servicemembers Affairs, said in a press release that the JAG Corps has been "on the front lines" in fights to protect military families from predatory lending.
"Through this partnership and our other efforts, we will work to make sure that the days of military families being easy targets for predatory practices and unscrupulous lenders are a thing of the past," Petraeus said.
