Financial troubles leading cause of security clearance loss

Federal Drive

Financial troubles leading cause of security clearance loss

Holly Petraeus, director of the consumer Financial Protection Bureau\'s Office of Servicemember Affairs, says bad credit rating, the rough housing market and po...

Federal News Network Staff

December 15, 2011 7:39 am

< a min read

A bad credit report, especially for someone in the military, can be devastating.

Defense.gov reports that financial problems are the number one cause for security clearance loss, which might keep troops from doing their jobs.

Holly Petraeus is the director of the consumer Financial Protection Bureau’s Office of Servicemember Affairs. She spoke at the Financial Fitness Forum, which was a way for her office to get more information about the problems troops and their families face. A bad credit rating, the rough housing market and poor financial management are just a few of the issues. She says the idea is to find ways to empower and educate military members.

Petraeus grew up in a military family and her husband is retired Army Gen. David Petraeus, now the CIA director.

This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.