Financial Frontlines Helps Service Members Fight Debt, Financial Fraud

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 --compared to 16 percent of civilian adults.

Florida Chief Financial Officer Jeff Atwater announced the launch of Financial Frontlines, a new website aimed at providing 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, a national campaign to encourage military service members and their families to save money and reduce their debt to build a solid financial future. Military Saves Week (running concurrently with Florida Saves Week), begins today, and runs through March 2nd.

The state Department of Financial Services will host 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.

Also, a state consumer help line at 1-800-My-FL-CFO (1-800-693-5236) is available from 8 a.m. to 5 p.m. Monday through Friday to respond to questions and complaints relating to 26 lines of insurance

Visit the new Financial Frontlines page and find an array of financial topics, including a video library, financial calculators, games and plenty of links to help learn about the unique challenges servicemembers can face when managing their finances, whether serving at home or abroad.