USA TODAY
Kevin McCoy
April 20, 2015
One of the largest U.S. processors of bill payments by military servicemembers will pay nearly $3.1 million in consumer relief after a review found the firm charged millions of dollars in hidden fees. Kentucky-based Military Assistance Company and its parent firm, Fort Knox National Co., will repay soldiers, sailors, Marines and other servicemembers who were harmed, the Consumer Financial Protection Bureau said Monday.
"Servicemembers paid millions of dollars in fees, probably without knowing it," said CFPB Director Richard Cordray. "Today we are taking action, and others should take note."Under the terms of a consent order, the companies will pay the settlement to the CFPB, which will contact servicemembers who may be eligible for refunds. read more here
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