This story appeared in Bank Digest.
The Consumer Financial Protection Bureau has issued a report entitled "A snapshot of servicemember complaints." According to the CFPB, the report provides information on what the bureau has learned from the nearly 2,500 complaints it has received from servicemembers, veterans, and their dependents about high-cost consumer credit. It also provides information on recent updates from the Department of Defense to the regulations implementing the Military Lending Act. The bureau said these updates should generally help servicemembers and their dependents avoid this type of high-cost debt going forward.