Holly Petraeus: Cuts could affect troops' finances

Holly Petraeus: Cuts could affect troops' finances

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By KRISTIN M. HALL
Associated Press

NASHVILLE, Tenn. (AP) - Holly Petraeus, the wife of retired Gen. David Petraeus and a military financial advocate, said the automatic cuts to military budgets could push military families into financial trouble with creditors looking to take advantage of them.

Petraeus, the assistant director of service member affairs for the Consumer Financial Protection Bureau, spoke Friday in Nashville to attorneys general from the South. Petraeus, whose husband resigned as the CIA director after admitting to an affair, declined to take questions from reporters regarding her personal life.

Although service member salaries are exempt from the budget cuts, the military is planning to furlough thousands of workers, many of whom are military spouses or family members. Petraeus said she's concerned families may seek high interest loans.

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