ICYMI: CFPB & FTC Stand Up for Servicemembers by Fighting for Crucial Protections

November 23, 2022 Press Release

Washington, D.C. – The American Economic Liberties Project released the following statement in response to news that the CFPB and FTC filed a friend-of-the-court brief to safeguard legal protections afforded to servicemembers and their families.

“As a Marine who deployed to Iraq and Afghanistan, I saw firsthand how vulnerable servicemembers are to predatory lenders,” said Lucas Kunce, Director of National Security Policy at the American Economic Liberties Project. “When I returned from Iraq, Marine after Marine came into my office with stories about how their lives had been destroyed or their houses taken while they were deployed, invariably in violation or laws like the Servicemembers Civil Relief Act.  At that time, we were on our own fight these companies, many of which were massive institutions with deep pockets. It’s incredibly encouraging to see the FTC and CFPB stand up for servicemembers so that they no longer have to stand alone in the fight to get simply what’s due to them under the law.”

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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.