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John,
The Navy Federal Credit Union says it serves our military. But it turns out, they were quietly profiting off of them for years.
Between 2017 and 2022, Navy Federal charged illegal overdraft fees to servicemembers, veterans, and their families — even when their accounts had enough money.
It was a deceptive, predatory practice. When the Biden-era Consumer Financial Protection Bureau (CFPB) investigated, Navy Federal admitted to its wrongdoing, agreed to stop, and promised to return $80 million to the people they took it from.
But then Trump took power and his handpicked CFPB chief terminated the order, meaning no more refunds for our servicemembers, veterans, or their families. This is a downright lack of accountability and a slap in the face to the people who have sacrificed so much to defend our country. Trump pretends to care about our troops and their families then turns around and enables shady organizations that have stolen from them.
Navy Federal has more than $180 billion in assets. They don’t need a bailout — they need to keep their word.
If they really “prioritize protecting members,” they should return every cent they wrongfully took.
Sign on now to demand Navy Federal’s CEO refund the $80 million they owe to military families.
The only way to ensure accountability is by putting public pressure on Navy Federal Credit Union. We need your help.
Thanks for taking action,
– Democratic Values
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