Leaders from organizations representing millions of current and former service members and their families are urging continued strong enforcement of the Military Lending Act, in letters sent Thursday to Secretary of Defense Jim Mattis and acting director of the Consumer Financial Protection Bureau Mick Mulvaney.
“Service members and their families suffer harm when predatory lenders target them with financial fraud and extremely high-interest rates,” wrote the advocates, leaders of 38 military and veterans service organizations, in two separate letters with the same content.
“We urge you to stand with the troops and against any attempt to weaken the Military Lending Act, including the Bureau’s supervisory and enforcement authority and the Department’s rules against predatory lending by all businesses, including by car dealerships.”
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!