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| U.S. Secretary of Labor Thomas E. Perez and Consumer Financial Protection Bureau Director Richard Cordray promote a two-year pilot program in coaching veterans. Arlington Employment Center, Va., May 20, 2015. |
Better financial education of consumers is one way to prevent scams and help elderly people achieve financial security by holding on to the money they earn.
It should be a national priority as 10,000 more baby boomers turn 65 years old every day.
It should be a national priority as 10,000 more baby boomers turn 65 years old every day.
Veterans in transition are often targets of scammers. Even the wrong choice of credit card could be very costly.
In military service they may not have kept up their financial management skills, and the stress of transition to civilian life may open them up to scams.
In military service they may not have kept up their financial management skills, and the stress of transition to civilian life may open them up to scams.
The Consumer Financial Protection Bureau and U.S. Department of Labor have initiated a two-year pilot program to help veterans and economically vulnerable consumers to manage their money.
About 60 certified financial coaches will be put in the field at locally based centers, including 35 American Job Centers.
"These professionals will provide one-on-one free coaching to help them craft a personalized plan for financial success," said Perez. More
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