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Tell your representative to protect military families from loan sharks

Congress is about to take action on whether to cap the interest rates predatory lenders can charge to military lenders. The action comes after a Department of Defense investigation found that payday lenders, car-title lenders and check cashing stores cluster around military bases and charge up to 500 percent interest to military families. 

On the table is whether Congress should cap interest rates at 36 percent on all loans charged to military borrowers, which would prevent lenders from taking advantage of our troops who are far from home and family.

Predatory lending has become so much of an issue that it has gained the attention of the highest levels of the federal government. According to the Department of Defense, payday lending is serious a problem that "undermines military readiness, harms the morale of troops and their families and adds to the cost of fielding an all volunteer fighting force."

The Senate responded and passed the 36 percent cap recommended by the Department of Defense. Now it is up to the House of Representatives. But the powerful lending industry is launching a lobbying campaign to stop the cap.

Our troops need our help. Contact your lawmaker today and to voice your support of a 36 percent cap on consumer loans to military families.  

Our troops shouldn't have to fight off predatory lenders. Take action today to stop predatory lenders.