A bad credit report, especially for someone in the military, can be devastating.
Defense.gov reports that financial problems are the number one cause for security clearance loss, which might keep troops from doing their jobs.
Holly Petraeus is the director of the consumer Financial Protection Bureau’s Office of Servicemember Affairs. She spoke at the Financial Fitness Forum, which was a way for her office to get more information about the problems troops and their families face. A bad credit rating, the rough housing market and poor financial management are just a few of the issues. She says the idea is to find ways to empower and educate military members.
Petraeus grew up in a military family and her husband is retired Army Gen. David Petraeus, now the CIA director.
This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.
Tom Temin is the host of The Federal Drive, which airs from 6-9 a.m. on 1500 AM in the Washington, DC region and online everywhere. Tom has 30 years experience in journalism, mostly in technology markets. Before coming to Federal News Radio, he was a long-serving editor-in-chief of Government Computer News and Washington Technology magazines.