Sen. Jim Talent seems to be making progress with his legislation that would limit the amount of instant loans that can be made to U.S. soldiers.
Here is the article from Stars & Stripes.
“This has become a readiness problem,” said Sen. Jim Talent, R-Mo. “They’re targeting younger troops. Our fine young men and women are dedicated and great warriors, but many are not sophisticated in finances. This becomes a distraction from their mission.”
In June, Talent and Sen. Bill Nelson, D-Fla., inserted an amendment into the 2007 Defense Authorization Bill that would cap interest on all loans to servicemembers at 36 percent and prevent multiple automatic loan rollovers.
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