Schumer Bill Would Protect Soldiers Abroad From Financial Abuse
U.S. Senator Charles Schumer has launched his first push to pass the Military Consumer Protection Act.
Service members from Upstate New York are at risk of abusive financial practices while they are deployed overseas, in remote areas like Iraq or Afghanistan, because, Schumer says, current regulators are failing to sufficiently enforce protections for service members against evictions, mortgage foreclosures, vehicle repossession and credit default while they are deployed.
"Men and women in uniform protect this nation bravely. It's up to us to see they are in turn protected by their nation."
Schumer says the Senate bill would authorize the Consumer Financial Protection Bureau to take over enforcement of the existing laws.