US defense department plans broad ban on high-cost loans  

June 5, 2014

Acknowledging that a previous law did not go far enough, the Defense Department said it needs to expand rules to protect service members from high-cost lenders

Paul Kiel (ProPublica)

The Department of Defense, attempting to thwart the ever-changing tactics of high-cost lenders, plans to dramatically broaden a federal law that sought to protect service members by capping the interest rate on loans made to troops.

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