CFPB Releases Report on Service members’ Complaints

The Consumer Financial Protection Bureau (CFPB) has posted a blog entry announcing the release of the sixth Annual Report from the CFPB’s Office of Service Member Affairs (OSA), highlighting issues and emerging trends facing service members, veterans, and military families.

The annual review allows the CFPB to highlight and address critical issues and emerging trends facing the military community and informs the Bureau’s efforts to protect military consumers. The OSA provides service to the military community by highlighting issues like abuses of the military allotment system, aggressive marketing of refinance offers to veteran homeowners, and full explanations of service members’ rights under the Service Member Civil Relief Act (SCRA).

This year's Annual Report describes emerging service member issues in the financial marketplace such as:

  • Medical, telecommunications and VA debts on service members’ credit reports;
  • Student loan servicing obstacles; and
  • Automobile add-on products in the car buying process

For more information on this and other topics, go to www.cfpb.gov.