Protecting Troops Who Use Loan Stores Backed
From Times Staff and Wire Reports
A state Senate committee Wednesday endorsed a bill to protect military personnel from predatory lenders.
Assemblyman Ted Lieu (D-Torrance), the bill’s author, called it the toughest in the nation to protect military personnel from high interest charged by payday loan stores.
Military officials said so many sailors and Marines are accumulating high debt that it is affecting military readiness.
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