Attorney General Frosh Urges CFPB to Protect Military Servicemembers from Financial Exploitation

BALTIMORE, MD – Maryland Attorney General Brian E. Frosh today joined a bipartisan coalition of 33 attorneys general calling on the Consumer Financial Protection Bureau (CFPB) and Acting Director Mick Mulvaney to continue protecting military servicemembers against predatory lenders under the Military Lending Act (MLA). The attorneys general urge the CFPB to reconsider its reported decision to stop examining lenders to ensure they are complying with the MLA.

“Director Mulvaney’s refusal to ensure lenders are complying with the MLA puts our military members and their families at unnecessary financial risk,” said Attorney General Frosh. “The CFPB should do its job and protect those who protect our country. My office will vigorously enforce consumer protection laws, including those protecting military families from extortionist or predatory loans.”

Read more in the full press release:http://www.marylandattorneygeneral.gov/press/2018/102318.pdf