The CFPB, along with AGs from Virginia and North Carolina took action against Freedom Furniture & Electronics and its related companies for alleged illegal debt collection practices involving servicemembers.

CFPB: Retailer Allegedly Using Illegal Debt Collection Practices Against Servicemembers Must Refund $2.5M

The Consumer Financial Protection Bureau continues its fight against companies that continuously take advantage of members of the military, despite protections afforded to them under federal laws. Regulators’ latest victory? A settlement demanding over $2.5 million in consumer relief from three companies that allegedly used illegal tactics to pilfer money from servicemembers and their families. [More]

New DoD Protections Aim To Keep Shady Businesses From Taking Advantage of Military Members

New DoD Protections Aim To Keep Shady Businesses From Taking Advantage of Military Members

Members of the military — particularly younger members from lower-income backgrounds — are too often the target of shady, predatory businesses looking to take advantage of their youth and inexperience with finances. The Military Lending Act offers some protections, but these operators find ways to get around the law. On Friday, the U.S. Dept. of Defense took steps to eliminate some of those exploitations by creating reforms to the current military discretionary allotment system. [More]

Sketchy Retailer Caught Scamming Servicemembers With Pointless Fees

Sketchy Retailer Caught Scamming Servicemembers With Pointless Fees

A discount retailer that came under fire last month for its questionable lending and marketing practices received a slap on the wrist from federal regulators for allegedly tricking thousands of servicemembers into paying fees for legal protections they already had and for certain services that the company failed to provide. [More]

Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Taking advantage of members of the military isn’t looked upon lightly by federal regulators. This idea was driven home today by the Depts. of Education and Justice, and the Federal Deposit Insurance Corp., who jointly announced a sizable settlement against student loan servicers Sallie Mae and Navient for overcharging and imposing excessive fees to military members.
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New System Addresses Military Members’ Complaints Of Higher Education Abuse

New System Addresses Military Members’ Complaints Of Higher Education Abuse

It’s hard to believe some higher education institutions deceptively target veterans and servicemembers, but it does happen. To better ensure veterans’ and servicemembers’ input is being heard the federal government has launched a new reporting system to streamline consumer complaint investigations. [More]

JetBlue Offers $1 Military Fare Through Today, Although It Comes With A Surprising Number Of Restrictions

JetBlue Offers $1 Military Fare Through Today, Although It Comes With A Surprising Number Of Restrictions

JetBlue is offering an amazing deal to members of our armed forces in honor of National Military Appreciation Month, but once you get past that jaw-dropping $1 fee, it starts to look like they outsourced the fine print to Macy’s. Here are the restrictions: