Holly Petraeus tapped to lead CFPB's military office
Thursday, January 6, 2011; 7:55 PM
Treasury officials on Thursday officially announced that the wife of the top American general in Afghanistan will head up the creation of the Office of Servicemember Affairs within the newly established Consumer Financial Protection Bureau.
Holly Petraeus, wife of Gen. David H. Petraeus and the daughter of the former superintendent of West Point, has long served as an outspoken advocate for military families. She most recently worked as director of the Better Business Bureau Military Line, which works alongside the Defense Department to advocate for military families and educate them on consumer issues. In addition, she has testified before Congress about military readiness and worked with state and local officials on issues affecting service members.
The new office she will help establish within the consumer bureau was created by the financial overhaul bill signed into law in July and will focus on educating military families about financial issues and protecting them from unscrupulous lenders.
"She is the kind of leader we need," Elizabeth Warren, who is leading the establishment of the new consumer bureau, wrote about Petraeus in a White House blog post Thursday. "Military families have unique challenges, and now they have a unique advocate to ensure that their special concerns get the attention they deserve."
A Treasury official said Thursday that Petraeus will be classified as SES - senior executive service - which means that her salary will fall between $119,554 and $179,700.