Fighting for the Service Members Who Fight for Us
There are more than two million active and reserve service members of the Unites States armed forces. Their situation is unique; many are young and financially inexperienced and are often and frequently relocated or deployed. They sometimes face difficultly accessing phones or the Internet.
Sadly, these vulnerabilities have made them a target for small and large businesses alike that prey on soldiers. Even when soldiers turn to their government for aid, they aren’t always given the support they need. Fighting for Those Who Fight for Us is a troubling new report by the American Association for Justice that reveals what our military members endure – and highlights how we can help them. Here are a few of the big takeaways from that report.
Targets of Predatory Financial Services
Forty-four percent of service members are under 25, making them financially inexperienced
Military personnel and their families face many of the same financial management challenges as civilians. This includes budgeting, paying bills, retirement planning, and debt management. However, being in the military also involves unique circumstances that can make managing household finances even more difficult: deployments, frequent changes of station, and prolonged separation from family. Changes of station can also affect the job security of spouses and other family members. This makes predatory lending practices and illegal financial scams all the more damaging for our service members.
One in three service members have resorted to some sort of non-bank borrowing organization, such as payday lenders and rent-to-own retail chains. These companies set up shop around military bases and sometimes misuse official government logos to look more legitimate. Contracts look straightforward but usually include hidden fees and exorbitant interest rates.
In 2007, Congress passed the Military Lending Act (MLA) to stop lenders from charging extremely high interest rates. Nevertheless, unscrupulous lenders continue to victimize service members by ignoring or circumventing the law. And it’s not just small payday companies getting in on the action. Large financial corporations like Prudential, Bank of America, and Capital One have settled class action suits with military personnel over questionable practices like profiting on life insurance benefits after veterans have died, charging higher-than-legal interest rates, and denying reprieve from foreclosure and repossession while soldiers are on active duty.
Exposure to Toxic Chemicals
Most of us have heard of Agent Orange, a herbicide used to clear jungles during the Vietnam War. For years, the military denied links between this deadly toxin and exposed soldiers suffering from cancer, birth defects, and more. It has also been well documented that service members and veterans face serious risks for developing asbestos-related diseases. This is a result of the historical presence of asbestos in buildings, ships, and other locations. These diseases include mesothelioma, a deadly and aggressive cancer.
Today’s Agent Orange story includes the more than 250 open-air burn pits used by the military in Iraq and Afghanistan to dispose of waste. Currently there are more than 175,000 veterans and service members who have registered on the VA’s Burn Pit Registry, suffering from an array of illnesses, including cancer, respiratory problems, and blood disorders. But even as the Burn Pit Registry grows, the U.S. Department of Veterans Affairs is still denying that there is scientific evidence proving the connection between military burn pits and health problems. Lawmakers are working to make documentation and research more readily available for possible burn pit victims, all in an effort to provide service members, both past and present, with the benefits they deserve.
Just the Tip of the Iceberg
These are just a few examples of shameful behavior by corporations and others toward our servicemen and women. Others include military pension buyout scams, improper firings, human experimentation, and opioid abuse. If you or a member of your family serves in the military, take a minute to read the full report here.
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