Last fall, as stories surfaced about military families preyed upon by lenders charging 400% and more, the DoD issued a report explaining that overwhelming debts were impairing military readiness. Congress responded with a new law to limit the interest rate that can be charged to military families. The cap is 36%–steep, but far better than what was out there.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1250522