Military Lending Protections Must Be Maintained, Groups Say

By Shayna Posses (August 27, 2018, 6:53 PM EDT) -- Dozens of military and veteran groups are urging the leaders of the U.S. Department of Defense and the Consumer Financial Protection Bureau not to weaken the Military Lending Act's protections in light of media reports that the Trump administration is pondering reducing military lending oversight.

Thirty groups — including the Armed Forces Retirees Association, Wounded Warrior Project and Student Veterans of America — wrote to Defense Secretary James N. Mattis and Acting CFPB Director Mick Mulvaney on Thursday, imploring them to continue strong enforcement of the MLA, which protects service members from predatory loans and financial fraud. The National Military and...

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