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A Ban On High-Cost Loans Could Be Coming

A Ban On High-Cost Loans Could Be Coming

The Military Lending Act caps interest that is annual loans to military users at 36% and provides other safeguards. Now, lawmakers are proposing to give that security to veterans as well as others. Shide caption

The Military Lending Act caps yearly interest on loans to armed forces users at 36% and provides other safeguards. Now, lawmakers are proposing to give that security to veterans among others.

Updated at 12:23 p.m. ET

A few years back, cash ended up being really tight for Chasity Wohlford. The Houston resident, who had been working a job that is low-wage needed seriously to fly to Colorado for a family group crisis. She claims a buddy shared with her, « Oh, just head to this payday lender. It is quite simple.  » But Wohlford finished up over her mind with debt after taking out fully that loan. Continuer la lecture de A Ban On High-Cost Loans Could Be Coming