Today, we’re releasing our third Snapshot of Complaints Received from Servicemembers, Veterans and their Families. The report details the data and trends from consumer complaints we’ve received from members of the military community since July 2011. Here are just a few highlights: Debt collection complaints have continued to rise since our last report, and now […]
We’re announcing an enforcement action against a lender that wrongfully used the logos of the Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA). RMK Financial Corporation (also doing business as Majestic Home Loans) sent out ads to veterans and other VA-eligible borrowers that misled consumers to think that RMK’s products were endorsed […]
Military personnel who have trouble handling their personal finances can very quickly find their duty status, potential promotions and even military careers in jeopardy. And, over time, the lingering burden of debt can add stress to their personal relationships and damage their credit profile. But does that debt have to be a career-killer? Servicemembers, veterans […]
Today we, along with the Attorneys General of Virginia and North Carolina, announced an enforcement action against a chain of stores doing business outside military bases across the United States. Under the terms of a proposed consent order, Freedom Stores, Inc., Freedom Acceptance Corporation, and Military Credit Services LLC, as well as their owners and […]
We’re joining the Departments of Veterans Affairs (VA), Defense (DoD), and Education (ED) to better protect servicemembers, veterans, and their family members who are attending college. We’ve signed an agreement to carry out a comprehensive strategy to strengthen our enforcement and compliance work. This new agreement is part of a larger effort to prevent abusive […]
We announced an enforcement action against Colfax Capital Corporation and its subsidiary Culver Capital, LLC for engaging in unlawful lending practices that targeted and financially harmed servicemembers. Although the name might be new to some, this is actually the last gasp of a chameleon-like company with a long and deplorable record of preying on servicemembers.