Description

Latest steps in Acting Chairman Ohlhausens efforts to protect servicemembers

A new Staff Perspective, a paper by the Federal Trade Commissions Bureau of Consumer Protection, examines financial issues that can affect military consumers, including servicemembers, veterans, and their families, when they are purchasing and financing a car, dealing with debt collectors, or making credit decisions, as well as their legal rights and remedies, and strategies to promote financial literacy and capability.

Issuance of the Staff Perspective coincides with Four Chaplains Day. On February 3, 1943, four U.S. Army Chaplains gave their lives to save other servicemembers when their ship, the SS Dorchester, sunk in the North Atlantic.

We honor servicemembers, veterans and military families who make sacrifices for all Americans, said Acting FTC Chairman Maureen K. Ohlhausen. They face unique financial challenges and the Staff Perspective we are releasing today will help them overcome these challenges.

The FTC Staff Perspectivesummarizes key takeaways from a workshop the agency held in July 2017 on military consumer financial protection, which brought together military consumer advocates, consumer groups, government representatives (local, state, and federal), military legal services and legal clinics, and industry representatives.

The Staff Perspective notes that panelists at the workshop discussed how servicemembers face a number of challenges in auto transactions particularly when buying or leasing a vehicle for the first time. It also describes the unique issues that servicemembers face if they fall behind on their financing payments and have to deal with debt collectors. In addition, the Staff Perspective refers to the challenges and potential resources available to military consumers who need to make decisions about credit. It also discusses the rights and remedies that are available to military consumers in making financial decisions, and emphasizes how financial education early and often, adapted to the military life cycle, is crucial.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.

Comments
Order by: 
Per page:
 
  • There are no comments yet
   Comment Record a video comment
 
 
 
     
Related Feed Entries
One day after CEO Mark Zuckerberg had to clarify his position on Holocaust deniers, Facebook announced a new policy to take down misinformation that might lead to violence.Source: Wired - Emerging technologies News
9 minutes ago · From Wired - Emerging technologies News
Get ready for a frenzy of community baking.Source: Coin Desk - Digital currency
19 minutes ago · From Coin Desk - Digital currency
Emails obtained via a Freedom of Information Act request reveal the social network has had plans to launch low Earth orbit satellites since at least 2016.Source: Wired - Emerging technologies News
29 minutes ago · From Wired - Emerging technologies News
Municipalities all over the US are taking oil companies to court for damages related to global warming. They're losing.Source: Wired - Emerging technologies News
This week, special guest Nitasha Tiku charts Juul's ever-changing relationship with its consumers, its investors, and those who oppose its product.Source: Wired - Emerging technologies News
Rate
0 votes
Info
Michael Blair
Time is your GREATEST asset
02.02.2018 (02.02.2018)
23 Views
0 Subscribers
Recommend
Tags