Advocates renew push for protecting troops from predatory lenders

“Service members that risk their lives to protect our freedoms shouldn’t be victim to predatory lending. but ripping off soldiers.deserves special calumny,” says Bart Naylor, a financial policy.

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The Consumer Financial Protection Bureau. ProPublica exposed the predatory practices of one especially unscrupulous installment lender, World Acceptance Corp., in 2013: World and its competitors.

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Banks want to be exempted from a new federal law protecting military families from predatory lending, but military and consumer advocates are asking the Pentagon to deny such an exemption and protect borrowers from any usurious lending, no matter who is making the loans. A measure protecting troops from predatory lenders was passed by Congress last fall as an amendment to the Defense Authorization bill, and the Pentagon is writing rules for its implementation in October.

March 06, 2019 Warner, Kaine Join Senate Dems In Calling On Trump Admin. To Shield Troops From Predatory Lenders. WASHINGTON, D.C. – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) joined Sen. Jack Reed (D-RI) and the entire Senate Democratic Caucus in calling for the Consumer Financial Protection Bureau (CFPB) to protect U.S. military personnel and their families from predatory lenders.

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Advocates renew push for protecting troops from predatory lenders Some fear the 300 percent APR loan will come back for troops, families, if feds don’t resume the monitoring. By: Karen Jowers May 15

Advocates Applaud DOD Move to Protect Troops from Predatory Lending Final Rules Extend 36% Rate Cap to More Forms of Credit Military servicemembers and their families will be better protected against predatory lending under new rules announced today by the Department of Defense (DOD), according to advocates at the National

Advocates push for continued oversight of loans to veterans, service members. actively protecting the military from what advocates consider predatory lending.. other kinds of high-interest.