Department of Defense released a press release
saying that they and the new Consumer Financial Protection Bureau signed a joint statement of shared principles that underscores their partnership to protect the finances of service members.
The statement pusts on paper the departments' shared interests, which include:
- Protecting service members and their families from illegal consumer financial practices and products;
- Enabling the department and the bureau to provide input to each other to reduce financial risk for service members and their families;
- Working together to address consumer financial concerns of military members and their families;
- Reducing risk in the small-dollar lending market; and
- Supporting financial literacy among service members and their families.
Learn more about the joint statement.