Information for servicemembers
The CFPB is committed to addressing consumer financial challenges affecting servicemembers, veterans, and their families. We do that through financial education, monitoring of complaints submitted by consumers to the CFPB, and coordinating with other Federal and state agencies on military consumer protection measures. We understand that military life has some extra challenges, such as deployment and frequent moves, and that those challenges can have powerful financial repercussions. Our job is to make sure that others understand the unique consumer financial challenges faced by the military, and to encourage the CFPB and other agencies use their powers to make financial markets work better for our military and veteran families.
Those who serve, or have served, our country should not have to worry about falling victim to unfair, deceptive, or abusive financial practices. We are here to ensure that the military community’s concerns are heard—and that we do something about them.
Your stories
The servicemembers we work for aren’t statistics in uniform. When they contact the CFPB for help, we learn more about how companies act in the market and how bad actions hurt military families. These stories matter.
When a servicemember couldn’t get anywhere with his mortgage lender, Captain Jamison helped him submit a complaint.
Harry spoke up when he noticed his son struggling with a car loan; he ended up helping thousands of servicemembers.
Taking action to assist servicemembers
Get answers
If you have a complaint against a financial company, you can submit it to us. We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint. We also have answers to common consumer issues right at your fingertips.
Submit your complaint.
Get straightforward answers to financial questions affecting servicemembers.
What we’ve heard from servicemembers
We’ve received more than 60,000 complaints from servicemembers, veterans, and their family members. Their experiences tell us a lot about priorities in the market and where to focus.
Report on issues related to VA mortgage refinancing
Annual servicemember report (March 2016)
Report on products impacted by the new MLA rule
Read 2015 and 2014 annual reports
See the full database of consumers’ complaints
Bringing actions against bad actors
We’ve recovered millions in relief for servicemembers from companies that targeted them with scams or illegal practices.
CFPB Orders Navy Federal Credit Union to Pay $28.5 Million for Improper Debt Collection Actions (Oct 2016)
CFPB Orders Servicemember Auto Loan Company to Pay $3.28 Million for Illegal Debt Collection Tactics (Oct 2015)
CFPB Takes Action Against Military Allotment Processor (Apr 2015)
See all our actions against companies targeting servicemembers
Pushing for better protections
Strengthening the Military Lending Act
Congress enacted the MLA to protect servicemembers from loans with a military annual percentage rate over 36 percent, with some exceptions. The initial rule implementing the MLA applied its protections to a very limited set of products, including narrowly-defined payday loans, auto title loans, and tax refund anticipation loans. In July 2015, the Department of Defense changed the implementing regulation so that more products are covered by the law’s protections. The products covered now more closely align with the traditional definition of consumer credit.
Report: how MLA loopholes hurt servicemembers
Guide to protecting servicemembers in the payday lending market
CFPB statement on proposed amendments to strengthen the MLA
MLA Final Rule
Protecting Servicemembers from abuses in the allotment system
The military discretionary allotment system allows servicemembers to automatically direct a portion of their paycheck to financial institutions or people of their choosing. However, military personnel using the allotment system instead of other automatic payment options like ACH (Automated Clearing House) can end up losing out on certain legal protections. In November 2014, Secretary Hagel announced important changes to the allotment system in order to better protect from abuses.
CFPB Cautions Military Lenders Against Illegal Military Allotment Practices
What you should know about allotments
Statement on DoD allotment system reforms
Helping Struggling Military Homeowners
Together with prudential regulators from the Federal Reserve System, the FDIC, NCUA and the OCC, we issued joint guidance to address mortgage servicer practices that may put military homeowners at risk.
Other federal regulators have helped as well. In June 2012, the FHFA issued guidance stating that PCSing military homeowners who obtained a short sale for FHFA loans would not have to pay the deficiency if there was a loss.
Changes to the HAMP program also helped struggling military homeowners by altering the definition of “primary residence” to take into account a PCS move and subsequent relocation.
Advocating for resources for servicemembers, veterans, and their families
Military education benefits and student loans
Most people paying for higher education take out student loans. Servicemembers, veterans, and their families have special options that could save them money and make them better off in the long run.
Report on student loan servicing and the cost to our men and women in uniform (July 2015)
Action guide for servicemembers: minimize your student loan payments
Report on student loan servicing and the cost to our men and women in uniform (October 2012)
GI Bill calculator
Know your options when it comes to repaying your loans. We have tools that can help you point you in the right direction.
Safeguarding veterans benefits
Depending on when you’re discharged, some of your veterans’ benefits kick in quickly while others come later. At every point, we want to make sure you protect what’s rightfully yours.
Protect your pension from poachers
Can a debt collector take my VA benefits?
Your benefits are protected from garnishment
Financial coaching
Providing tools for educators and servicemembers
Virtual training
The Office of Servicemember Affairs hosts an ongoing series of online Military Financial Educator eLearnings on consumer financial topics for military leaders, Command Financial Specialist, service providers who deliver financial, educational, or legal counseling to servicemembers and their families.
Tools & Resources
Ask CFPB – Get straightforward answers to financial questions affecting servicemembers.
Fraud protection tools to help safeguard servicemembers
Servicemembers: Know your rights when a debt collector calls
Find a Professional
Guide to choosing a financial professional.
Find a local military Personal Financial Manager to help you navigate the confusing consumer financial marketplace.
Find an Armed Forces Legal Assistance attorney close to you.
STATE CONSUMER FINANCIAL PROTECTION RESOURCES FOR SERVICEMEMBERS
We’ve compiled a listing of the consumer financial protection resources available to servicemembers and their families in each of the 50 states. Generally, these resources are provided by the Consumer Protection Division/Units of the State Attorney General. Several states centralize consumer protection services under a separate state government office such as the Department of Consumer Affairs or the Department of Commerce and Consumer Affairs. The inclusion of these state resources are especially important to servicemembers and their families as they move from duty station to duty station and are often unfamiliar with the consumer protection assistance available to them.
Office of the Attorney General. “Military and Veterans.”
California
Department of Justice. Office of the Attorney General. “Military Consumer Protection.”
Colorado
Office of the Attorney General. “Stop Fraud Colorado—Military.”
Florida
Chief Financial Officer. “Empowering and Protecting Florida’s Military Consumers.”
Georgia
Military Consumer Protection Resource Page
Illinois
Office of the Attorney General. “Military & Veterans Rights.”
Indiana
Office of the Attorney General. “Protecting Military Servicemembers.”
Kansas
Office of the Attorney General. Consumer Protection Division. “Military Families.”
Kentucky
Office of the Attorney General. “Consumer Protection Guide for Military Servicemembers.”
Office of the Attorney General. “Resource Guide for Servicemembers and Veterans.”
Massachusetts
Office of the Attorney General. “Resource Guide for Veterans and Servicemembers.”
Michigan
Office of the Attorney General. “Legal Protections and Rights Available to Military Servicemembers.”
Minnesota
Office of the Attorney General. “Veterans and Servicemembers.”
Mississippi
Office of the Attorney General. “Resources for Military Service Personnel and Families.”
Montana
Military Consumer Protection Tips
New York
Office of the Attorney General. “Veterans & Service Members Resource Guide.”
North Carolina
Department of Justice. Office of the Attorney General. “Tips for Military Personnel.”
Office of the Attorney General. “Services for Military and Veterans.”
Oregon
Department of Justice. Veterans Resources, Consumer Protections. “Consumer Protections for Military Personnel and Military Spouses.”
Pennsylvania
Office of the Attorney General. Office of Military and Veterans Affairs. “Office of Military and Veterans Affairs Protecting Consumers.”
Tennessee
Office of the Attorney General and Reporter. “Consumer Protection Guide for Consumer Affairs Counselors and United States Military Servicemembers.
Virginia
Office of the Attorney General. “Veterans Assistance – Resources”
Washington
Office of the Attorney General. “Consumer Protections for Veterans & Military Personnel.”
Latest posts from the Office of Servicemember Affairs
A Veterans Day complaint review: VA home loan refinancing – Holly Petraeus, 11/10/2016
Be your family’s financial action hero during an emergency – Holly Petraeus, 09/13/2016
Guard against fraud and make better financial decisions for Military Consumer Protection Month – Holly Petraeus, 07/01/2016
Arm yourself with knowledge when shopping for an auto loan – Holly Petraeus, 06/16/2016
Servicemembers 2015: A year in review – Holly Petraeus, 03/22/2016
Don’t Be a Zombie with Your Personal Finances – Mechel Glass, October 27, 2015
Servicemembers: Protecting your credit when you’re away from home – Holly Petraeus, 09/01/2015
The launch of the CFPB financial coaching initiative – Holly Petraeus and Daniel Dodd-Ramirez, 05/20/2015
Here’s what we’re hearing from Servicemembers and their families – Holly Petraeus, 04/27/2015
The VA doesn’t send you mortgage ads – Holly Petraeus, 04/09/2015
Consumer advisory: 3 pension advance traps to avoid – Holly Petraeus and Nora Down Eisenhower, 03/16/2015
Are unpaid debts a military career-killer? – Holly Petraeus, 01/09/2015
Freedom Stores to provide over $2.5 million in refunds and penalties – Holly Petraeus, 12/18/2014
Social Security disability income shouldn’t mean you don’t qualify for a mortgage – Holly Petraeus and Patrice Ficklin, 11/19/2014
Veterans: Take advantage of student loan forgiveness, but don’t let it damage your credit – Holly Petraeus and Rohit Chopra, 11/17/2014
Working together to protect student veterans – Holly Petraeus, 08/26/2014
Read all of our blog posts for servicemembers and veterans
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