A group of 22 state attorneys general urged the Department of Defense to change its proposed military lending rule, arguing that the plan doesn't go far enough and could actually result in higher fees.
"Preying on those who serve in our armed forces is despicable. Unfortunately, service members make tempting targets for predatory lenders because they have steady paychecks, many are young, and it can be difficult for them to challenge abusive lenders from overseas," New York Attorney General Eric T. Schneiderman said Monday. "My fellow Attorneys General and I urge the Department of Defense to provide the strongest possible protections from financial abuse for the brave men and women who protect our nation."
Attorneys general from Arkansas, Delaware, Florida, Connecticut, Hawaii, Iowa, Illinois, Indiana, Maine, Minnesota, North Carolina, New Mexico, New York, Pennsylvania, Massachusetts, Rhode Island, Tennessee, Vermont and Washington wrote a letter to DoD calling for changes to the proposal.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
