Family Programs
Petraeus to address predatory financial risks facing service members 
Colorado National Guard Public Affairs 

May 14, 2012

Air National Guard Capt. Darin Overstreet

CENTENNIAL, Colo. (5/14/12)Holly Petraeus, director of the Office of Service Member Affairs at the Consumer Financial Protection Bureau, will hold a media availability event at the Colorado National Guard headquarters Tuesday, May 15, at 2 p.m.

The press conference will address a wide range of issues focused on personal financial fitness and predatory business practices.

Petraeus will discuss the financial challenges that service members and their families face, and the CFPB’s ability to take on businesses and scammers who target military members with bad deals and outright rip-offs.

During her visit, Holly, wife of retired Army Gen. David Petraeus, will be joined by Colorado Attorney General John Suthers and Adjutant General of Colorado Maj. Gen. H. Michael Edwards. Following the press conference, Holly will share her concerns and steps for safeguarding troops with CONG leadership during a roundtable discussion.

The focus of the visit will be to inform military members and their families of CFPB’s role providing the education they need to make sound financial decisions; ensuring their complaints are monitored, questions are answered, and working with other federal and state agencies to improve consumer protection measures.

“Congress, in creating the OSA, recognized that protecting our service members from suffering financial repercussions for answering the call to service is not only the right thing to do – it is also important to our national security,” Holly said in a statement to members of Congress. “Military personnel who are distracted by financial problems cannot do their jobs to the best of their abilities.”

"Services members, both living here in Colorado and while stationed abroad, face a number of demands on their time and resources,” said Suthers. “Unfortunately, scam artists find service members an attractive target precisely because they are often busy protecting our country overseas or focused on their duties here at home. From identity theft to phishing scams, consumer fraud takes many forms. It is my hope that this roundtable starts an ongoing conversation about protecting Colorado military personnel and Colorado veterans from consumer fraud.”

Holly knows firsthand the strains facing America's military members and their families. She has previously served as the director of the Better Business Bureau's Military Line program. Currently, she leads efforts designed to ensure the CFPB uses its powers to support military members and their families, to encourage good business practices in the financial markets that serve them, and to identify and bring to justice those who break financial laws to do them harm.

“We do all we can to protect our service members during combat and while at home,” said Edwards. “Those who defend our freedoms shouldn’t suffer financial hardships related to their commitment to our great nation. They sacrifice for us every day and we owe them our commitment of protection.”

FOR ASSIGNMENT EDITORS: Please RSVP to Capt. Darin Overstreet, darin.overstreet@us.army.mil, by 8 a.m., Tuesday, May 15. Media crews should arrive at the southwest gate of the Joint Force Headquarters-Colorado complex, 6848 S. Revere Pkwy., Centennial, Colo., 80112, between 1:20 and 1:40 p.m. Live coverage is possible.


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