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CFPB v. Fort Knox National Company and Military Assistance Company, LLC

The Consumer Financial Protection Bureau, or CFPB, filed a lawsuit against MAC (Military Assistance Company, LLC) and its parent company, Fort Knox National Company.

We alleged that the companies charged undisclosed fees against allotment money that had accumulated in service members’ accounts. The military allotment processor did not clearly disclose various recurring fees, which could total $100 or more. Under a consent order entered into with the Bureau, Fort Knox National Company and Military Assistance Company will pay about $3.1 million in relief to harmed servicemembers.

Victim compensation

The CFPB contracted with RUST Consulting to administer victim payments and answer questions from consumers about these payments and this case. This matter is now closed.

Payments and check reissue requests are no longer being honored. For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, Fort Knox, 1700 G Street NW, Washington DC 20552.

Important dates

March 2016 – February 2018: Distribution

More information about the case

Read the court order

Read the press release