Fraud Protection Is Heightened For Veterans In Florida
Chicago, IL (PRWEB) July 09, 2013 -- The Federal Savings Bank, an institution specialized in veteran loans wants VA's to know that a new piece of legislation was signed into law in Florida on July 1, 2013. The law calls for more aggressive penalties in cases of fraud impacting military families and veterans.
The Tampa Bay Times reported that Gov. Rick Scott signed HB 1223 - a bill that passed unanimously in both the Senate and the House - at MacDill Air Force Base in Tampa, Fla. The bill creates a civil penalty, along with guaranteed restitution, for fraud committed against veterans and their family members. Funeral homes, for instance, target veterans with extra fees for services such as a burial in a national cemetery - a service that is otherwise free for veterans.
"We wanted to ensure that law enforcement and prosecuting agencies had an extra tool in their toolbox to go after some of these folks who are willing to target our military men and women in the name of profit, and to do so disingenuously and inappropriately," Representative J.W. Grant, a Republican of Tampa and sponsor of the bill in the House, told Sunshine State News. "We're sending a message to [servicemen] that when they're off making sure that this is the freest and most prosperous country in the world, that we're going to protect them and their families from these kinds of scams."
Crime doesn't pay
Attorney General Pam Bondi and Holly Petraeus, military affairs specialist with the Consumer Financial Protection Bureau, worked to get the legislation passed into law. The bill calls for an additional $15,000 in civil penalties regarding incidents of fraud, as well as guaranteed payments of restitution to the affected parties.
"I'm very appreciative of anyone who is willing to put on the uniform, defend our freedom and put their life at risk," Scott added. "We must do everything in our power to protect those who serve our nation from these predatory practices."
The bill, which will take effect immediately, is geared to both scams and predatory lending schemes. As Patraeus said, if you think it doesn't happen, just look up military loans online and all kinds of things pop up, according to WUSF News.
Contact The Federal Savings Bank, a 100 percent veteran owned bank, for assistance securing a VA home loan or to get answers to your questions surrounding current VA mortgage rates or first-time home buyer programs.
The Perfect Mortgage Experience, The Federal Savings Bank, https://www.thefederalsavingsbank.com, 855-686-3883, [email protected]
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