Gen. Petraeus' Wife to Fight Predatory Lenders

Wednesday, 05 Jan 2011 11:00 AM

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The wife of the top U.S. commander in Afghanistan will head the new Consumer Financial Protection Bureau’s efforts to protect military families from predatory lenders. Holly Petraeus, the wife of Gen. David Petraeus, will be appointed this week to take charge of the Office for Service Member Affairs, sources told The Washington Post.

holly, pretraeus, predatory, lendersThe daughter of a career Army officer, Holly Petraeus is director of BBB Military Line, an advocate for military families that works with the Defense Department. She will join a team being put together by presidential adviser Elizabeth Warren that has now grown to more than 100 people including former Ohio Attorney General Richard Cordray, who will head the enforcement division, the paper reported.

President Barack Obama has yet to name a leader for the new agency that was opposed by many Republican members of Congress. Abusive lending practices are a key focus of the agency. The Service Member Affairs Office is part of the Education and Engagement division that also includes efforts to protect students, the elderly, and others from predatory lending, The Washington Post said.



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