In 2006, Congress capped rates of interest on payday loans to duty that is active for the military

In 2006, Congress capped rates of interest on payday loans to duty that is active for the military

Evading Federal defenses for the Military; Harming our Troops. In 2006, Congress capped rates of interest on payday advances to duty that is active regarding the army and their loved ones at 36per cent APR. This legislation expanded away from concern through the Department of Defense and base commanders that troops had been being caught in high degrees of cash advance financial obligation. This financial obligation not merely strained military families, it threatened protection clearances and also by expansion army readiness. Continue reading “In 2006, Congress capped rates of interest on payday loans to duty that is active for the military”