Holly Petraeus Stands Up for Military Families at the CFPB

HELPLINE

Holly Petraeus, who served as the Better Business Bureau’s military liaison, is now the head of the Consumer Financial Protection Bureau’s Office of Servicemember Affairs. As such, she’s redoubled her commitment to ensuring that servicemembers and their families are protected from predatory lending. If you’re part of a military family, or have friends or neighbors who serve, you should read her article on DoD Live.

Petraeus, who happens to be the wife of (Ret.) General David Petraeus, discusses the burdens that military families shoulder when they receive orders to move to a new duty station and are denied short sales and home modifications. She notes that the Treasury Department has taken steps to help, but it sounds as though there’s a long way to go. She also discusses predatory marketing by for-profit colleges regarding military education benefits, as well as scams by used car dealers involving yo-yo financing.

Petraeus also voices concern about debt collectors calling servicemembers and threatening them with the Uniform Code of Military Justice or telling them that their security clearances will be compromised if they don’t pay. She recounts, “We even heard of a debt collector telling a widow that she had to use the money from her husband’s combat death gratuity to pay the debt immediately.” That’s simply beyond the pale.

User Profile Image

About the Author:

Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.

See more posts from Sergei Lemberg
BE THE FIRST TO COMMENT

Leave a Reply or Comment

Write a comment below to share online. Or, instead you can to our legal team.
Email is required to block spam, but will not be published.

Please select your star rating.

Briefly describe your experience Briefly describe your experience

What’s your name? What’s your name?

What’s your phone number? Please enter a valid phone number

Want to know if you could sue? Get free legal evaluation Lemberg Law?

Get Your No-Obligation
Case Evaluation

Send a secure message to our legal team.

What’s your name? What’s your name?
What’s your email address? What’s your email address?
What’s your phone number? What’s your phone number?
Briefly describe the problem Briefly describe the problem
Confidentiality Guarantee: We keep your information completely confidential and will not send you spam or sell your information.