Davis Objects To Cap On Pay Day Loans To Soldiers

Davis Objects To Cap On Pay Day Loans To Soldiers

Some customer teams are questioning Rep. Geoff Davis’ objections up to a proposal that will place a limit on high interest levels for soldiers whom sign up for short-term pay day loans.

” It could be interesting to learn why Congressman Davis is working from the security of servicemen that a minimum of the Department of Defense desires from Congress,” stated Jean Ann Fox, consumer-protection manager when it comes to customer Federation of America.

The Pentagon has accused payday loan providers of surrounding its armed forces articles and troops that are exploiting.

Davis, an Army veteran and freshman congressman representing north Kentucky, opposes the amendment authored by Sens. Jim Talent, R-Mo., and Bill Nelson, D-Fla., since it would impose a cap that is 36-percent on payday lenders, stated their chief of staff, Justin Brasell. Continue reading