In 2006, Congress capped rates of interest on pay day loans to active responsibility people regarding the military

Evading Federal defenses for the Military; Harming our Troops. In 2006, Congress capped rates of interest on pay day loans to duty that is active of this army and their own families 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 levels of cash advance financial obligation.

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