Today – the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act – President Obama announced the Department of Defense finalized rules to prevent U.S. troops from being taken advantage of by predatory lenders.
The Military Lending Act originated as a proposal from the CFPB, a consumer watchdog group designed to protect Americans from becoming victims of financial hardships that have been blamed as a cause of the Great Recession.
The President made the announcement at a Veterans of Foreign Wars convention in Pittsburgh.
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