CFSA Military Best Practices

All CFSA member companies comply with the following policies in providing services to members of the military:

1. A prohibition on the garnishment of military wages or salaries;
2. 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;
3. A prohibition against contacting the military chain of command of a military customer in a effort to collect on the loan;
4. 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;
5. A requirement that CFSA devote a portion of its existing financial literacy effort to addressing the particular education needs of military customers;
6. A requirement that CFSA develop a brochure with information specifically relevant to military customers including CFSA best practices, military policies regarding credit, where military members may turn for financial assistance through established military programs, a CFSA military hotline, and information about local credit counseling alternatives; and
7. CFSA will establish and maintain a current web page listing “Military Best Practices,” CFSA member payday advance providers along with appropriate contact information, providing military credit policies, financial assistance available to military personnel, and information regarding military credit counseling alternatives for use by the general public and military personnel and agencies as they deem appropriate.