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Archive for April, 2015

CFPB Takes Action, Fines Military Allotment Processor Millions

The CFPB (Consumer Financial Protection¬†Bureau) has taken legal action against a military allotment processor who failed to clearly disclose a number of recurring fees to service members. The outcome? Roughly $3.1 million in relief¬†that is to be paid out to affected service members. Fort Knox National Company, along with its subsidiary, Military Assistance Company (MAC),…

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