As part of the Defense Reauthorization Bill , Senators Jim Talent, R-Mo., and Bill Nelson, D-Fl, introduced a amendment that is bipartisan caps interest levels for many loans to solution people and their dependents at 36 %. This amendment, which passed the Senate at the conclusion of June, tries to curb the training of payday lenders targeting personnel that are military. The Talent-Nelson amendment can be an essential part of protecting naive and susceptible solution people from predatory loan providers and may stay in the seminar committee bill. Continue reading →

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