PRESS STATEMENT
Military and Veterans’ Organizatons Express Support for CFPB
On October 3, the United States Supreme Court will hear oral argument in the case of Consumer Financial Protection Bureau v. Community Financial Services Association of America, representng the culminaton of litgaton which may decide the fate of the Bureau. As the date looms closer, military and veterans’ groups are joining to express support for the Consumer Financial Protecton Bureau (CFPB) and its proven commitment to the financial wellbeing of servicemembers, veterans and their families.
Congress specifically tasked the CFPB with special authority to protect servicemembers and their families from targeted financial abuses, such as predatory lending, violatons of the Military Lending Act (MLA) and abuse of the allotment system. The CFPB has taken this responsibility seriously, handling over 320,000 complaints from servicemembers, veterans and their families, recovering $175 million in monetary relief through enforcement actons involving harm to servicemembers and veterans, including six cases for violatons of the MLA, and providing educatonal resources to these consumers about the rights and protectons afforded via their military status.
Without a strong CFPB, servicemembers, veterans and their families are at risk of losing a crucial ally and the sole national consumer protection agency with a Congressional mandate to protect their interests. Should the Court rule against the CFPB, the financial readiness of our all-volunteer force will be seriously undermined and these distressing abuses will go unchecked. The undersigned groups have long advocated for the rights and protection of servicemembers, veterans and their families. Several of these groups signed onto an influential “friend of the court” brief in the Supreme Court case, voicing strong support for the Bureau. At this critical juncture, the groups listed below come together to express support for the CFPB’s ability to fulfill its mission as a critical partner to protect our nation’s military community and to urge the Supreme Court to maintain the integrity of the Bureau.
Signed:
Blue Star Families
Blinded Veterans Association
Coast Guard Chief Pety Officers Association
Disabled American Veterans
Iraq and Afghanistan Veterans of America
Jewish War Veterans of the U.S.A.
Military Chaplains Association
Military Officers Association of America
Military Order of the Purple Heart
National Military Family Association
National Coalition for Homeless Veterans
Naval Enlisted Reserve Association
Service Women’s Action Network
The American Legion
The Society of Federal Healthcare Professionals
United Spinal Association/VetsFirst
United States Army Warrant Officers Association
Veterans Education Success
Veterans of Foreign Wars
Vietnam Veterans of America