This morning, the House Armed Services Committee voted on the National Defense Authorization Act. Congresswoman Tammy Duckworth introduced an amendment before the vote, stripping away provisions that delayed the Defense Department's recommended improvements to the Military Lending Act.
Gary Kalman, executive vice president of the Center for Responsible Lending, offers remarks:
The members of House Committee on Armed Services who voted to prioritize the safety and welfare of the men and women who serve our country above the interests of payday lenders did the right thing. The Defense Department's improvements to the Military Lending Act will, when finalized, effectively rein in the abusive practices and the harm caused by high cost payday loans targeting our active military personnel.
Congresswoman Tammy Duckworth's leadership has paved the way for these important protections for our military to move forward.
For more information, contact Catherine An at catherine.an@responsiblelending.org.