WASHINGTON — The Community Financial Services Association of America hailed a Sept. 4 report from the Government Accountability Office that found some of the Department of Defense's initial report conclusions lacking evidence (see related story, page 1-60-61).
The 2006 National Defense Authorization Act required the DoD to report on certain mandated issues, including the prevalence and effects of predatory lending, and make legislative and regulatory recommendations. "DoD issued a report on predatory lending that addressed the mandated issues, but it contained limited support for some of its findings and recommendations," a GAO summary of the report stated. The GAO is the apolitical research arm of Congress.
"All mandated organizations and groups stated that they had commented on DoD's report, although DoD appears to have consulted with military charity organizations and consumer groups more than with the federal agencies identified in the report," GAO commented. The authors of the DoD report said they might have done things differently given more time.
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