The national government recently announced regulations that are new increase the Military Lending Act of 2006.
The MLA caps payday advances to armed forces workers at a 36% apr. Why do we trust our volunteers into the military to create life or death choices, but ban them from building a financial choice to spend the conventional $60 price of a two-week, $300 pay day loan? The demand for short-term credit will still exist with or without payday lenders. More over, illegal loan providers will gleefully provide $300 loans that are short-term. „Why a 36% Cap is simply too Low for Small-Dollar Loans. The Federal Government recently…“ weiterlesen