Military

CFPB: Bureau Asks Congress for Clear Authority to Supervise for Compliance with the Military Lending Act

Consumer Financial Protection Bureau Director Kathleen L. Kraninger today issued the following statement announcing that she has asked Congress to grant the CFPB clear authority to supervise for compliance with the Military Lending Act (MLA). “The Bureau is committed to the financial well-being of America’s service members. This commitment includes ensuring that lenders subject to…

ABA: Free Career Training for Veterans, Transitioning Military Members and Military Spouses Unveiled

As the nation honors veterans this week for their service to the country, the American Bankers Association is launching a new training initiative designed to make it easier for those who serve to make the transition to banking.  Today ABA released Transitioning Careers – Basic Bank Training for Veterans, a free, online training program specifically…

CFPB: Help Is Here for People with Severe Disabilities Struggling with Student Loans

  Tens of thousands of disabled veterans and hundreds of thousands of people living with severe disabilities are now eligible for new student loan protections starting this year. What’s new for borrowers with severe disabilities and student debt? Due to a recent change in federal law, borrowers whose student loans are forgiven on or after…

SBA: Veterans Business Outreach Center Fund Opportunity Announced

Private organizations, colleges and universities, private sector firms, nonprofit organizations and state, local or tribal governmental agencies are eligible to apply for funding from the U.S. Small Business Administration to provide training and counseling to aspiring and existing veteran small business owners as a Veterans Business Outreach Center (VBOC). The grant awardees will be providing training…

CFPB: VA Refinancing Offers that Sound Too Good to Be True

By Patrick Campbell and Anthony Vail – NOV 20, 2017 Situation The CFPB and VA are issuing their first WARNO, “Warning Order,” to servicemembers and veterans with VA home loans. If you have a VA home loan, then there is a good chance that you have already come into contact with unsolicited offers to refinance…

CFPB: Tips for Servicemembers with Student Debt

The unique nature of life in the military can create financial challenges for servicemembers. This is especially true for servicemembers with student loans. We routinely hear from servicemembers who enter military service not simply with student loans, but because of them. And yet, military borrowers continue to tell us about the obstacles they face when…

Census Bureau: Highlighting Our Nation’s Veterans with the New “The Wealth of Veterans” Report

The U.S. Census Bureau will release a new report “The Wealth of Veterans” that uses data from the 2014 Survey of Income and Program Participation to look at how military service may influence the lifelong financial well-being of veterans. The report describes differences in the components of wealth between male veteran householders and nonveteran householders…

SBA: Celebrating National Veterans Small Business Week 2017 Oct. 30 through Nov. 3

The U.S. Small Business Administration will celebrate veteran, service member, National Guard and Reserve members, and military spouse entrepreneurs during National Veterans Small Business Week, Oct. 30-Nov. 3. “Veteran-owned businesses are a critical pillar of the U.S. economy as they contribute more than $1.14 trillion to the nation’s annual total sales and receipts,” SBA Administrator…

CFPB: Service Members Should Secure Their Identity after the Equifax Data Breach

If you were one of the many servicemembers and their families affected by the recent Equifax data breach, it is time for you to secure your identity. Thankfully, active duty servicemembers have special tools at their disposal, like active duty alerts or a security freeze, to reduce the risk of identity theft. Here is a CFPB operation order for…

Census Bureau: New Report on the Characteristics of Female Veterans

A new report on the characteristics of female veterans released today by the U.S. Census Bureau shows that early-career aged female veterans (18 to 34 years old) were more likely to be employed, married and have a child in their home than early-career aged female nonveterans. This report, which uses 2015 American Community Survey data,…