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

Payday Lenders Surround U.S. Military Bases however 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 precious jewelry, together with high-cost credit to fund them. [They line up there] like bears on a trout flow.”

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

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