Controversial payday advances soldiers that are targeting from Iraq are actually within the crosshairs of politicians.

Assemblyman Ted Lieu, a Torrance Democrat, introduced a bill, AB7, that will tighten up state enforcement of 36-percent annual rate of interest caps on loans to army workers and their loved ones, in line with recent tips because of the Department of Defense.

Lieu is just a reservist into the Navy’s Judge Advocate General corps and it is acquainted with the matter having been both a prosecutor and a protection lawyer in instances involving debtors that are military who face penalties far stiffer than foreclosures, repossessions or dings on credit file.Continue reading→