A group of 22 state attorneys general urged the Department of Defense to change its proposed military lending rule, arguing that the plan doesn't go far enough and could actually result in higher fees.
"Preying on those who serve in our armed forces is despicable. Unfortunately, service members make tempting targets for predatory lenders because they have steady paychecks, many are young, and it can be difficult for them to challenge abusive lenders from overseas," New York Attorney General Eric T. Schneiderman said Monday. "My fellow Attorneys General and I urge the Department of Defense to provide the strongest possible protections from financial abuse for the brave men and women who protect our nation."
Attorneys general from Arkansas, Delaware, Florida, Connecticut, Hawaii, Iowa, Illinois, Indiana, Maine, Minnesota, North Carolina, New Mexico, New York, Pennsylvania, Massachusetts, Rhode Island, Tennessee, Vermont and Washington wrote a letter to DoD calling for changes to the proposal.
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