As many as one in five members of the armed services are being preyed on by loan centers set up near military bases that can charge cash-strapped military families interest of 400% or more, a new Pentagon report has found. Steep lending charges have long plagued servicemembers, but the problem has become a more urgent concern to the military as it has struggled to fill its ranks during the Iraq war. That's because debt troubles can keep troops from going overseas...read on
A Conservative Congressman is leading the charge to screw the troops...Think Progress has more...
But one conservative congressman, Rep. Geoff Davis (R-KY), is trying to gut the amendment. Davis has proposed his own language — praised by the payday lending industry — that sets no real limits on predatory lenders. One of Davis’s aides admitted last week that he consulted on the legislation with “CNG Financial of Mason, Ohio, one of his top campaign donors and owner of national payday lender Check ‘n Go.”
Today may be the last day to stop Davis in his tracks. Call his office now and tell him to stop enabling predatory lenders who are hurting the U.S. military.
Toll-free congressional switchboard (ask for Davis’s office):