Congressman Blocking Crackdown on Predatory Lenders on troops

[Monkeyman]

http://thinkprogress.org/2006/09/20/predatory-lending-action/

Congressman Blocking Crackdown on Predatory Landers Targeting U.S. Troops

A Pentagon report last month found that as many one in five U.S. service mambers are being preyed on by loan centers set up near military bases .That can charge intrest of 400 percent or more.Increasingly, soldiers have dept levels so high they are barred from serving overseas;others suffer from bankruptcies,divorces and ruined careers.

There is a bill to make these landers only charge a cap of 36 percent. But one conservative congressive,Rep. Geoff Davis (R-KY), is trying to gut the amendment. Davis has proposed his own language-praised by payday lending industry- that sets no real limits on predatory lenders. One of Davis's aides admitted last week that he consulted on the legislation with CNG Financail of Mason Ohio, (Here it Comes) one of his top campaign donors and owner of national payday lender Check'n GO

Again we see who this Republican care about .These pukes make me sick.

[notadmblnd]

1. those payday advance places need to go.

they're all over the poorer parts of town around here. I'm just glad I've never seen anyone go into or come out of one. I just hope people are smarter than that.

[Mandate My Ass]

2. smart has little to do with it, desperation trumps IQ

Everybody thinks they can pay it off immediately and escape the harsher penalties but few manage it, locking themselves into an ever-increasing, impossible to pay debt. :evilfrown:

[speedoo]

3. Sounds like a "Worst Person in the World" for sure.

I hate this bullshit. KO, please expose this asshole. No doubt he's a chickenhawk as well.