Sen. Ossoff Pushing to Protect Georgia Servicemembers, Veterans, and Their Families from Predatory Banking Practices

Washington, D.C. - U.S. Senator Jon Ossoff is pressing the Trump Administration to reverse course and protect Georgia's servicemembers, veterans, and their families from unfair banking practices.

In a letter directed to Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought, Sen. Ossoff demanded answers on the termination of a CFPB order that required Navy Federal Credit Union (NFCU) to pay $15 million in penalties and facilitate the return of over $80 million to service members, military spouses, and veterans following findings of unfair banking practices.

"Georgia is home to over 60,000 active-duty servicemembers and nearly 700,000 veterans. Protection against unfair banking practices is vital to ensure that our servicemembers and veterans are treated with dignity and respect and that our military families are supported at home," Sen. Ossoff wrote.

Sen. Ossoff continues working to protect Georgians from unfair banking practices and financial scams.

In February, Sen. Ossoff demanded answers and stronger protections for Georgia seniors from the FTC as financial scams continue to rise at an alarming rate.

That same month, Sen. Ossoff urged the Trump Administration to resume the Consumer Financial Protection Bureau's (CFPB) work investigating and enforcing protections for military families and veterans against predatory lenders.

In March 2024, Sen. Ossoff launched an inquiry with the Consumer Financial Protection Bureau (CFPB) to better protect Georgia seniors from financial scams.

Click here to read Sen. Ossoff's full inquiry.

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