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IMMEDIATE RELEASE

Release No: NR-398-14
July 29, 2014

Statement by Secretary of Defense Chuck Hagel on the Consumer Financial Protection Bureau announcement

I welcome the Consumer Financial Protection Bureau's announcement today that 17,000 service members and other consumers will receive a total of $92 million in debt relief from Rome Finance, whose unlawful, predatory lending schemes specifically targeted active-duty military personnel serving nationwide. No one who serves our country in uniform - especially during a time of war - should ever fall victim to predatory financial practices, and today's announcement is an important step in righting this wrong. The Department of Defense is grateful to the Consumer Financial Protection Bureau for its efforts on behalf of our troops, veterans, and military families, and we appreciate its ongoing partnership in helping equip service members and their loved ones with the right tools and information so they can safely navigate today's complex financial world.

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