By Karen Jowers, Staff writer
Copyright: www.militarytimes.com
Defense officials are more than three months late on a report on the military allotment system, which will recommend steps to protect troops from unscrupulous businesses and lenders that use allotments to take advantage of them.
Defense Secretary Chuck Hagel ordered the review June 27 following a major enforcement action by the Consumer Financial Protection Bureau against two companies, alleging that they required troops to pay by allotments without properly disclosing all the fees charged by third-party processors.
A report on the review, headed by the Defense Department comptroller, was due within 180 days — by the end of last December.
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Copyright: www.militarytimes.com
Defense officials are more than three months late on a report on the military allotment system, which will recommend steps to protect troops from unscrupulous businesses and lenders that use allotments to take advantage of them.
Defense Secretary Chuck Hagel ordered the review June 27 following a major enforcement action by the Consumer Financial Protection Bureau against two companies, alleging that they required troops to pay by allotments without properly disclosing all the fees charged by third-party processors.
A report on the review, headed by the Defense Department comptroller, was due within 180 days — by the end of last December.
Read More
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