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),…
