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Consumer Financial Protection Bureau

Benefit Category: Federal
Consumer Financial Protection Bureau logo

The Office of Servicemember Affairs

Servicemembers should be able to accomplish their mission without worrying about illegal or harmful financial practices. The Office of Servicemember Affairs is here to ensure that military personnel and their families have a voice at the Consumer Financial Protection Bureau. Military life can have some extra challenges that can sometimes have powerful financial repercussions.

Servicemembers, veterans, and their families …

Are an attractive target for both good and bad lenders:

  • Many lenders know the UCMJ requires you to maintain good finances.
  • You are easy to find, so lenders are confident they can collect debts you owe.
  • Your military pay represents a steady income that could be garnished.
  • Military families often start young, leading to big money management decisions by first-time decision makers.

Face unique risks:

  • Deployments, change of duty stations, and emergencies lead to unplanned and unique financial difficulties without adequate resources to resolve them.
  • Your loyalty to your service leads marketers to tie their pitches to the military, a strategy called “affinity marketing.”
  • Frequent relocation can mean unforeseen expenses and a lack of familiarity with the local environment.

Consumer Help

Phone:  (855) 411-CFPB (2372)
TTY/TDD:  (855) 729-CFPB (2372)
Fax:  (855) 237-2392
180+ languages available

8 a.m. – 8 p.m. Eastern, Monday–Friday

Consumer Financial Protection Bureau
P.O. Box 4503
Iowa City, Iowa 52244

 

News about Consumer Financial Protection Bureau

BY 

14,100. Sounds like a random number, doesn’t it? But to us, 14,100 represents the number of servicemembers, veterans and their family members whose stories have come to us through their consumer complaints.

Discharge Requests

Most Veteran’s benefits require that applicants provide a copy of their Form DD 214 or discharge record, which is evidence of their veteran status. This is an important document and must be safeguarded. In the State of North Dakota separation documents are considered confidential and privileged NDCC 37-18-11 (13). National Guard members may receive a NGB22 and /or NGB23 upon obtaining 20 years of satisfactory service (20 year letter).