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Senators turn to Pentagon to safeguard Servicemembers by Plugging Payday Loan Loophole

WASHINGTON, online payday loans Missouri DC – in order to protect soldiers and their loved ones from abusive economic methods, a small grouping of 23 U.S. Senators, led by Jack Reed (D-RI), Dick Durbin (D-IL), and Mark Udall (D-CO), is urging Department of Defense (DOD) Secretary Chuck Hagel to shut a loophole that enables loan providers to restructure their old-fashioned loans in order to prevent a DOD guideline restricting the total amount of interest on credit rating services and products sold to servicemembers.