Florida Chief Financial Officer Jeff Atwater announced Monday in Tallahassee the launch of Financial Frontlines, a new website to provide information and resources to help Florida’s 58,000 military service members fight back against financial fraud and debt.
Financial Frontlines is being released in collaboration with Military Saves Week, which begins today and continues through Saturday.
Financial trouble has been cited as the number one threat to service members’ security clearance. A recent report by the Financial Industry Regulatory Authority found that nearly 27 percent of military families have at least $10,000 in credit card debt. Military Saves Week, which runs concurrently with Florida Saves Week, encourages military service members and their families to save money and reduce their debt to build a solid financial future.
“Military service members are well trained to protect our nation, but they may not be prepared for the financial risks they may also face,” Florida CFO Jeff Atwater stated in a prepared release. “Just as they are committed to protecting us, I am committed to protecting our brave servicemen and women from financial fraud and predatory lending.”
In addition to releasing the new website, the Department of Financial Services will provide financial presentations at military bases that are hosting Military Saves Week activities. Topics will include identity theft, credit scoring, budgeting, predatory lending and the Servicemembers Civil Relief Act.
“We applaud our state’s efforts to improve our service members’ financial security, responded Major General Emmett Titshaw, the Adjutant General for the Florida National Guard. "This recognition of the sacrifices our service men and women are making is appreciated.”
The Financial Frontlines website includes online training presentations that can be accessed individually or for large training groups. Other online resources provided by CFO Atwater and the Department of Financial Services include Your Money Matters, On Guard for Seniors and an OnDemand Library.
Floridians may also contact the Department of Financial Services Consumer Helpline from 8 a.m. until 5 p.m. weekdays at 1-800-My-FL-CFO (1-800-693-5236), to answer questions and complaints relating to 26 lines of insurance.
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