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WASHINGTON — The first indication that lawmakers may be in a mood to address the question of payday lenders preying upon members of the armed forces may come in the form of hearings on the topic, which could be slated for September, according to a credit union lobbyist. Brad Thaler, NAFCU’s Legislative Director, has noted that Senator Richard Shelby (R-Ala.), chairman of the Senate Banking Committee, has stated a desire to hold hearings on the topic in the wake of a recent Department of Defense report documenting the damage payday lending and other forms of short term lending do to military families as well as the difficulty the DoD has in confronting the problem. The report praised credit unions and some banks for the educational opportunities they provide to military members and customers to help protect them from being victimized, but also documented how these efforts, so far, have not been enough to address the core of the problem.

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