|Pentagon wants tighter soldier loan protections|
|News - St Augustine Area & St Johns County|
WASHINGTON — Aiming to restrict lenders who prey on members of the military, the Obama administration on Friday moved to close legal loopholes that have placed hundreds of thousands of service members at risk of excessive payday and other short-term loan fees.
The Defense Department proposed new rules to toughen a 2006 law that limits interest rates for certain types of credit available to service members and their dependents.
Read entire article: Pentagon wants tighter soldier loan protections