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Troops’ best defense against fraud is in jeopardy, advocates warn
“The thought of CFPB going away is frightening,” one advocate told senators.
By Karen Jowers
Jewelry company to pay millions to military families to settle cheating allegations
The company will pay $13 million in refunds, stop collecting $21 million in outstanding loans and fix negative entries in credit reports.
By Karen Jowers
Feds allege pawnshops ‘cheated’ and ‘gouged’ military families
These pawnshops allegedly charged active-duty members and families an annual interest rate of more than 200%.
By Karen Jowers
Reversing Trump-era decision, feds strengthen enforcement of rules protecting troops from predatory lenders
The Consumer Financial Protection Bureau announced Wednesday it will restart its examinations of lenders to enforce the Military Lending Act.
By Karen Jowers
Feds reach settlement with online lender on alleged military overcharges
LendUp will pay up to $300,000 in restitution to service members, to include what they've already paid.
By Karen Jowers
Lender sued by feds for allegedly overcharging troops says it fixed the problem three years ago
Company says it self-reported the issues to the CFPB in 2017, and refunded interest and fees to service members.
By Karen Jowers
Feds allege online lender violated law, overcharged military borrowers
Lawsuit asks for restitution and other monettary relief to more than 1,200 military consumers allegedly overcharged.
By Karen Jowers
Protect service members from predatory corporations
Congress shouldn't allow service members to waive their SCRA rights by predatory lenders, says the author of this commentary.
By Rep. Jared Golden
VA clears 5 schools to keep enrolling GI Bill students
Some advocates call the decision a move "to ignore federal law in order to protect predatory colleges."
By Karen Jowers
On consumer credit and unintended consequences
Consumers — members of our armed services most of all — must be protected from bad actors, but not with blanket rules that fail to account for their very real needs and that risk bringing real harm to their economic security, says the author of this commentary.
By Bill Himpler
All Americans deserve the same protection from predatory loans that service members have
The authors of this commentary support the Veterans and Consumers Fair Credit Act, in addition to the Military Lending Act, to protect active-duty service members and their families against abhorrent, predatory lending practices and products.
By Paul E. Kantwill and Christopher L. Peterson