CFSA Best Military Practices
All CFSA member companies comply with the following policies in providing services to members of the military:
- A prohibition on the garnishment of military wages or salaries;
- A deferral of collection activity against a military customer that has been deployed to a combat or combat support posting for the duration of the deployment or a Reserve or National Guard member called to active duty;
- A prohibition against contacting the military chain of command of a military customer in an effort to collect on the loan;
- A requirement that CFSA members honor the terms of any repayment agreement that they have entered into with any customer, including any repayment agreement negotiated through military counselors or third-party credit counselors;
- A requirement that CFSA devote a portion of its existing financial literacy effort to addressing the particular education needs of military customers;
- A requirement that CFSA develop a brochure with information specifically relevant to military customers including CFSA Best Practices, where military members may turn for financial assistance through established military programs, a CFSA military hotline and information about local credit counseling alternatives;
- CFSA will establish and maintain a web page listing "Military Best Practices" and providing information on: locating or contacting CFSA member companies; addressing questions or concerns regarding member company practices; financial assistance available to military personnel; and military credit counseling alternatives for use by the general public, military personnel and agencies as they deem appropriate.
