Department of Defense Proposes Rules to Strengthen Military Lending Act,
Today, the Department of Defense released proposed rules to further protect service members and their families from predatory lending practices. If fully implemented, these rules will strengthen protections under the Military Lending Act and close loopholes unscrupulous lenders use to target military families with unconscionable high-cost loans. In response, Center for Responsible Lending president Mike Calhoun issued the following statement...