Monthly Archives: November 2011

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AFR Press Statement: Senate Banking Committee hearing on Empowering and Protecting Servicemembers, Veterans and their Families in the Consumer Financial Marketplace

We applaud Senator Johnson for holding this important hearing. In 2006, the Department of Defense (DoD) issued a “Report on Predatory Lending Practices Directed at Members of the Armed Forces and Their Dependents”, which concluded that “predatory lending undermines military readiness, harms the morale of troops and their families, and adds to the cost of fielding an all volunteer fighting force.” In surveys conducted by DoD last year, personal finances ranked second on the list of causes of stress for servicemembers, second only to career concerns. Financial problems are now the top cause of revocation of military security clearances.

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CFA Press Release: Oil Speculation on Wall Street Devastates Household Budgets on Main Street

Dr. Mark Cooper, CFA Director of Research, submitted the following statement for the record of the hearing on Excessive Speculation and Compliance with the Dodd-Frank Act, being conducted by the Senate Committee on Homeland Security and Governmental Affairs, along with CFA’s recent report entitled Excessive Speculation and Oil Price Shock Recessions: A Case of Wall Street ‘Déjà vu All Over Again.’