The Talent-Nelson Amendment to the Defense Authorization Bill is in play this week, and the dealing is going thick and fast. The amendment says that lenders cannot charge military families more than 36% interest. If it passes, this would be the first effective usury rate in the US since 1980. The amendment got a big boost in early August when the Department of Defense issued a powerful report calling on Congress to protect military families, citing the need to maintain troop readiness.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1250433