Payday Lenders Surround U.S. Military Bases — nevertheless the Pentagon Is Preparing to Counterattack

The payday financing industry has “found its range.” But assistance is on your way.

“I’ve lived on or near armed forces bases my life and seen that strip outside of the gates, providing anything from furniture to utilized cars to electronic devices to precious jewelry, while the high-cost credit to fund them. [They line up there] like bears on a trout flow.”

Therefore claims Holly Petraeus, mind for the workplace of Servicemember Affairs at the U.S. customer Financial Protection Bureau, or CFPB, (as well as the wife of resigned Gen that is four-star Petraeus). And she is perhaps not the just one concerned about the epidemic of payday loan providers preying on our country’s army.

U.S. Sen. Jay Rockefeller calls the lenders that are payday put up shop outside U.S. Continue reading

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