Celia Winslow, President and CEO of the American Financial Services Association (AFSA), addressed the importance of financial stability for active military servicemembers and their families in a recent opinion piece published in Stars and Stripes. Winslow emphasized that financial security for those serving is closely tied to national security.
"For our military to be focused on the security of our nation, they should not be distracted or weighed down by financial concerns. That was the intent of the Military Lending Act when it was enacted, one that AFSA Members Companies fully support," Winslow stated.
Winslow also noted that over time, certain policies under the Military Lending Act (MLA) may have limited servicemembers’ access to reliable and ethical credit options. She highlighted concerns about inadequate enforcement against unethical lenders who target military personnel. AFSA has put forward recommendations aimed at improving how both the MLA and the Pentagon address these issues to better serve military members’ financial needs.
The full editorial can be accessed through Stars and Stripes.