Tip of the Month: New Protections for Servicemembers and Veterans

In May 2018, the President signed new protections for servicemembers into law.  In addition to requiring free security freezes and one-year fraud alerts at the three nationwide credit reporting agencies, this law also addresses a number of key financial issues for the military, including:

  • -Holding lenders to more stringent requirements when they participate in VA’s refinance programs
  • -Ensuring continued foreclosure protections for servicemembers up to one year after they leave active duty
  • -Prohibiting medical debt that should have been paid by the VA to be reported as part of a veteran’s credit history
  • -Providing free credit monitoring for active duty military, including the national guard

Get more information about these protections here.