Advocates renew push for protecting troops from predatory lenders

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 · As it stands, the Military Lending Act outlines guidelines for lenders: They can’t charge military members an annual interest rate of more than 36 percent; they can’t push them into forced.

US military soldiers march during the Veterans Day Parade in New York on Nov. 11, 2014. Photo by Jewel Samad/AFP/Getty House targets predatory lending protections for US troops

Consumers, Payday Lending Employees Face Off On Proposed Short-Term Lending Rules. Joining the chorus of advocates applauding the CFPB’s steps to rein in predatory lending, our colleagues at.

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

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The 2006 law sought to protect troops from predatory lenders who set up shop near military bases, sometimes charging 120% to 300% interest on short-term loans.

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From managing your finances, to buying a new car or home, Mil Money provides advice to U.S. service members.

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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

Communication Service for the Deaf Supports Legislation to Allow Deaf Americans to Enlist and Serve in the U.S. Military

Advocates from six military and veterans organizations renewed their push for a key federal consumer agency to resume monitoring lenders to protect service members and their families from predatory practices. Military and veteran groups are concerned about what amounts to "removing the sentries from the guard tower,"said Mike Saunders, director of military and consumer policy.

As a lifetime military family member, I’ve seen first-hand the devastating impact financial scams and predatory lending can have on our military families. I also spent 6 years as the head of the Better Business Bureau’s BBB Military Line program, and that was an education for me about the consumer issues and scams that impact the military.

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The U.S. Senate confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau ends an almost three. Senator Bob Corker, a Tennessee Republican, said he would still push.