Proposed Rules on Predatory Payday Lenders Questioned

Democrats in the Senate and two Independents have called on the Trump administration to drop proposed changes that they argue would ease oversight of predatory payday lenders. In a letter last week, the senators, including the ranking members of the Banking, Armed Services and Veterans Affairs Committees, said that gutting provisions of the Military Lending Act of 2006 could limit reviews of a lender's qualifications and expose troops to exorbitant interest rates. For more details, see this Military.com article.