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A Ban On High-Cost Loans Could Be Coming

A Ban On High-Cost Loans Could Be Coming

The Military Lending Act caps interest that is annual loans to armed forces users at 36% while offering other safeguards. Now, lawmakers are proposing to give that security to veterans as well as others. Sid Hastings/AP hide caption

The Military Lending Act caps yearly interest on loans to army people at 36% and will be offering other safeguards. Now, lawmakers are proposing to give that security to veterans among others.