We announced a public enforcement action against U.S. Bank and Dealer’s Financial Services (DFS). At issue was the way they used the military discretionary allotment system to have servicemembers pay for cars bought through the MILES (Military Installment Loan and Education Services) Program. It’s an important announcement because it shines a spotlight on potential problems with the use of allotments as a way to pay off consumer debt. Read more here.
Did you know we’ve received more than 5,000 complaints from servicemembers, veterans, and their families? By and large, statistics for complaints submitted by the military track with those of the population at large. But these complaint statistics aren’t just numbers to us: they represent military members and their families and we know the impact consumer […]
You might be surprised to learn that April 23rd is “Teach Children to Save” Day. Yes, there seems to be a special day dedicated to just about everything. But, compared to celebrations like “Talk Like a Pirate Day,” teaching your kids to become savvy savers can instill lifelong positive financial habits in them and be […]
This blog post is part of a series for National Consumer Protection Week When you buy something it’s hard to know if you’re getting the best deal – and that includes when military families, who are often targets for marketers, are making big financial decisions. Even though some companies might try to take advantage of […]
Sometimes people in the military have interesting beliefs about things that impact their finances. Sometimes they’re correct; sometimes they’re partially true; and sometimes they’re just flat wrong. Check out the statements below – hit or myth? “Shopping around for a loan will kill my credit score.” This one is a myth – sometimes. When you […]
I know, you don’t have to file your taxes until April 15th (and if you’re in a combat zone you can delay even longer), but you may want to file as soon as you’re allowed – especially if you’re due a refund. So let’s talk taxes for a minute. First of all, if you don’t […]