An article in the latest edition of InfoSight Spotlight points out the CFPB has posted a Bureau Blog entry announcing the release of the sixth Annual Report from the Bureau’s Office of Servicemember Affairs (OSA) highlighting issues and emerging trends facing servicemembers, veterans, and military families. The annual review allows the CFPB to highlight and address critical issues and emerging trends facing the military community and informs the Bureau’s efforts to protect military consumers.
The OSA provides service to the military community by highlighting issues like abuses of the military allotment system, aggressive marketing of refinance offers to veteran homeowners, and full explanations of servicemembers’ rights under the Servicemember Civil Relief Act (SCRA). This year’s Annual Report describes emerging servicemember issues in the financial marketplace such as:
- Medical, telecommunications and VA debts on servicemembers’ credit reports
- Student loan servicing obstacles
- Automobile add-on products in the car buying process
Read the full InfoSight newsletter here.