Holly Petraeus speaks at financial town hall
OSAN AIR BASE, Republic of Korea -- Holly Petraeus, director of the Consumer Financial Protection Bureau's Office of Servicemember Affairs, held a town hall to discuss predatory business practices and personal financial tips with the Osan community May 14.
During her first visit to Osan AB and the ROK, Petraeus heard first-hand of service members' financial hardships and informed those in attendance at the town hall of her role at the CFPB.
"Because we are a new agency, a lot of people probably don't know we exist," she said. "Equally important is that this allows me to hear from service members and their families about the financial issues that are the most challenging for them, so I take that back and can inform the people back in (Washington) D.C."
According to their website, the Office of Servicemember Affairs ensures that military families receive the financial education they need to make sound financial decisions; ensures that complaints and questions from military families are monitored and responded to; and that federal and state agencies coordinate their activities to improve consumer protection measures for service members and their families.
"When we find out about people breaking consumer financial protection laws to harm service members, we help CFPB enforcement teams take action against them," Petraeus said. "We serve military personnel - active duty, guard and reserve - their families and retirees as well."
After answering questions from the town hall attendees, Petraeus made sure to drive home one critical point.
"There's an agency in D.C. that's here for you," she said. "But do your homework now to avoid heartache later."
For more information about the CFPB's Office of Servicemember Affairs, visit http://www.consumerfinance.gov.