Welcome to Financial Frontlines
Chief Financial Officer Jeff Atwater understands the unique financial challenges that our military community faces each day. Financial Frontlines provides information and resources to help active duty servicemembers, their families and veterans fight financial fraud and debt. Financial Frontlines provides valuable financial information about identity theft, credit scoring, budgeting, predatory lending and the Servicemembers Civil Relief Act. View our testimonial videos to learn some valuable savings tips from local servicemembers who have successfully navigated financial challenges and the techniques they used to reach their financial goals.
CFPB Orders Credit Union to Pay Millions for
Improper Debt Collection Actions
The CFPB ordered Navy Federal Credit Union to
pay $28.5 million for making false threats to
collect debts and for placing unfair
restrictions on account access. Visit the CFPB’s
Newsroom to find out more about how the credit
union deceived active duty and retired
servicemembers and their families. Review the
newly-added Debt Collection chapter in our
Resource Guide for more information on your
rights as a consumer and tips on communicating
with debt collectors.
Now On-Demand: “Resources & Tips for Dealing
with Debt Collection”
Visit the CFPB's on-demand virtual library to
view the recent webcast. The Office of
Servicemembers Affairs provides information,
resources and tips on how to effectively
communicate with debt collectors.
|ITT Tech Closure – VA Announcement
Regarding the GI Bill
The U.S. Department of Veterans Affairs (VA) is providing updates and resources to students who use the GI Bill regarding the next steps to continue their education. Specific answers to questions are available; topics include: housing allowances, eligibility for federal student loan discharges and transferring credits. For more information, visit http://benefits.va.gov/gibill/.
|State of Florida Enforces MLA Provisions
The Military Lending Act (MLA) was created to protect servicemembers from financial hardship posed by predatory lending. Amendments to the MLA will authorize the Florida Office of Financial Regulation (OFR) to enforce the provisions of the MLA on a statewide level. OFR will have the authority to deny a license or take disciplinary action against state-licensed financial institutions, consumer finance lenders, payday lenders and vehicle title lenders. If OFR investigates and determines that a lender has violated the terms of the MLA, it may take legal actions to seek remedies for the violation. For more details on OFR’s authority to enforce the MLA, you may read SB 626 in its entirety at the following link: www.flsenate.gov/Session/ Bill/2016/0626/BillText/er/PDF.
|Fraud Protection Tools to Safeguard Your
While on active duty, your identity can be at risk. Protect yourself from harm by utilizing the following credit alerts provided by the Fair Credit Reporting Act (FCRA).