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Archive for 'Military Lending Act'

Obama Admin Seeks to Expand MLA, Reduce Predatory Lending

By ab.rehmanososoft@gmail.com on October 16th, 2014 | No Comments

Posted in: Debt Collectors, Fair Debt Collection
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The Obama Administration and the U.S. Department of Defense (DoD) are aiming to curtail predatory lending practices by expanding the protections offered to active service members and their families. These actions are intended to broaden the Military Lending Act (MLA), crushing...

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Lenders Target Naive Military with Usurious Payday Loans

By ab.rehmanososoft@gmail.com on May 17th, 2013 | No Comments

Posted in: Debt Harassment, Debt Scams
Tags: , , ,

Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded by storefront lenders who charge high annual percentage rates, sometimes exceeding 400 percent. The Military Lending Act...

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