Some customer teams are questioning Rep. Geoff Davis‘ objections up to a proposition that will place a limit on high rates of interest for soldiers whom sign up for payday that is short-term.
“ It could be interesting to learn why Congressman Davis is working up against the security of servicemen that a minimum of the Department of Defense wishes from Congress,“ stated Jean Ann Fox, consumer-protection manager for the 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 published by Sens. Jim Talent, R-Mo. , and Bill Nelson, D-Fla., given that it would impose a cap that is 36-percent on payday loan providers, stated their chief of staff, Justin Brasell.