Protecting Servicemembers from Abuses of the Military Allotment System

Posted: Jun 9, 2022 | Author: CFPB
CFPB  compliance  Department of Defense  lending & collections 

For years, the CFPB has warned about companies positioned just outside the gates of military bases that target servicemembers with costly loans and expensive contracts for items like cars, furniture, and electronics.

Despite existing federal protections, the CFPB and the Department of Defense continue to closely monitor these companies for abuses, particularly those that seek servicemembers due to their steady paychecks and the ability to structure repayments through the military allotment system.

Read more in this recent article from the CFPB.


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