STEVE INSKEEP, Host:
NPR's Wendy Kaufman reports.
WENDY KAUFMAN: Holly Petraeus has been tireless in her efforts to protect members of the military from predatory lending and other abusive practices. For the past six years, she's been working on behalf of service members at the Better Business Bureau, and she knows what she's talking about. She said she and her husband were themselves easy prey as a young Army couple.
KAUFMAN: We made some of the rookie financial mistakes that I counsel people against today: buying the expensive sports car, signing an apartment rental contract sight unseen based on a slick brochure, putting money into a questionable investment opportunity without doing any serious research simply because it promised great returns.
KAUFMAN: Mike Calhoun, president of the Center for Responsible Lending, says Petraeus is the perfect individual to set up the office. He cites her knowledge and commitment. He adds the country will benefit when service members are on sound financial footing.
KAUFMAN: A service member who's worrying about whether their family can pay their bills or being harassed by creditors just can't function effectively.
KAUFMAN: Wendy Kaufman, NPR News.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.