AZ Star at it, too
April 13, 2009 | Arizona, Consumer Federation of America, industry, regulation, states | Comments (0)The editorial board at the AZStar in Arizona has weighed in on federal legislation:
At the end of 2006, Congress effectively banned payday loans for military personnel, capping loans to such borrowers at 36 percent. If Congress considers payday loans bad for the national’s military force, they should also be considered unwise for the rest of Americans.
As we’ve point out in this space, no lenders stepped in to make loans at 36%. Military personnel now get charity from the military relief societies.
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