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Topic: National Credit Union Administration

New Allotment Rule Protects Troops From Lending Scams

 

Written by Terri Moon Cronk
DoD News, Defense Media Activity

United States Department of Defense - DoDWashington, D.C. – Defense Secretary Chuck Hagel has directed a policy change in new paycheck allotments to prevent unscrupulous commercial lenders from taking advantage of troops and their families, Pentagon officials said today.

According to a Defense Department news release published today, effective January 1st, 2015, the change in DoD’s Financial Management Regulation will prohibit service members from allotting pay to buy, lease or rent personal property, a senior DoD official said. «Read the rest of this article»

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