White House welcomes Holly Petraeus to the CFPB

[ProSense]

White House welcomes Holly Petraeus to the CFPB

by Joan McCarter

Elizabeth Warren writes at the White House blog, welcoming the newest addition to the Consumer Financial Protection Bureau implementation team, Holly Petraeus (yes, spouse of Gen. David Petraeus).

Today, nearly 300,000 American men and women are serving overseas, often in harsh conditions and at grave risk. For many of these brave men and women, the challenge of everyday life experienced by their families back home is a significant worry, as loved ones struggle with car payments, credit card bills, and trying to find the cash needed to cover unexpected expenses.

Regrettably, the evidence is clear: servicemembers and their families are sometimes easy targets for unscrupulous lenders. Even families that stay with mainstream lenders can struggle as the impact of separation and frequent moving takes a financial toll, leaving a family mired in debt and trying to digest reams of fine print.

Today, we have good news to report.

Holly Petraeus will take on a new role at the Consumer Financial Protection Bureau Implementation Team, directing our effort to establish an Office of Servicemember Affairs.

This is an extremely smart move by Warren. Petraeus has been a passionate advocate for service-members in her position as the Director of the Better Business Bureau (BBB) Military Line, and has unlimited credibility in the military community and even with the GOP (other than just-departed Kansas Sen. Sam Brownback, who was so opposed to financial reform he defended lenders who preyed on military families).

Petraeus's prominent position in implementing the CFPB, her military connections, and yes, her last name, will make it at the very least awkward for Republicans committed to figuring out how to destroy the new agency.

[Exultant Democracy]

1. From everything I hear they are a really nice family.