Payday Lenders Surround U.S. Military Bases nevertheless the Pentagon Is Preparing to Counterattack

The payday financing industry has "found its range." But assistance is in route.

"I've lived on or near armed forces bases my life and seen that strip away from gates, providing anything from furniture to utilized vehicles to electronic devices to precious precious precious jewelry, together with high-cost credit to cover them. They line up there like bears for a trout flow."

Therefore says Holly Petraeus, head associated with the workplace of Servicemember Affairs in the U.S. customer Financial Protection Bureau, or CFPB, (as well as the wife of resigned four-star Gen. David Petraeus). And she actually is maybe perhaps perhaps maybe not really the only one concerned about the epidemic of payday loan providers preying on our country's army.

U.S. Sen. Jay Rockefeller calls the lenders that are payday create store outside U.S. army bases "scoundrels" and "scumbags." Sen.