USAA will fork over more than $12 million to service members, retirees and veteran account holders as a result of a recent settlement with the Consumer Financial Protection Bureau, Military Times' Karen Jowers reported on Jan. 3.
The Trump administration wants to get rid of a decade-old Military Lending Act designed to protect service members from predatory lenders and other financial hucksters looking to swindle U.S. military personnel out of their hard-earned cash, according to internal documentsobtained by both the New York Times and National Public Radio.
Veterans looking to purchase a home or refinance with a U.S. Department of Veterans Affairs’ home loan program over the next six weeks may find it harder than usual to close on adjustable-rate mortgage loans. In fact, it may be next to impossible.
