SwiftVets.com

[coldwarvet]

Contact your elected officials and ask them to support our servicemembers by adopting Senator Elizabeth Dole's ammendment.

Email I received from the American Legion

By adopting the FY 2006 DoD authorization (S 1042). They face immense opposition from the industry that preys on military men and women.

The original legislation is HR 97 and S 1523. The Senate is trying to finish work on S 1042 before the recess. Sen. Dole is trying to insert the language of S 1523 into the DoD authorization.

Predatory lending practices, such as payday loans, are an increasing problem within military markets. With a number of young troops lacking basic financial management capabilities, many fall victim to ill-advised lending practices.

Some see U.S. servicemen and women as a captive and somewhat naïve borrowing audience for these lending schemes. Unfortunately, these practices are becoming more and more prevalent, especially during time of extended troop deployment.

"Predatory lending" practices not only hurt the financial stability of our military personnel but, according to defense officials, they also threaten our military's operational readiness. The companies offer easy money that intentionally perpetuates a "cycle of indebtedness" for young soldiers and their families. Since military conduct codes stress financial solvency, some troops are reluctant to seek help until it's too late.

Predatory lenders directly affect our military's Operational Readiness. The army identified personal financial issues as one of the most important issues facing military families. Congress has an obligation to protect our military servicemen and women from these types of predatory lending tactics.

This is very important legislation that would provide new consumer lending protections for all members of the U.S. Armed Forces. These new rules would protect military servicemen and women, and their families, from the most egregious and harmful lending practices. It would protect them from exorbitant APR rates and break the "treadmill of debt" perpetuated by these less-than-reputable lending tactics. Most important, these protections would curb those predatory lending practices that hurt the long-term financial stability of military families and threaten the operational readiness of the Armed Forces.

All members of The American Legion family are urged to contact their members of Congress and ask them to support the efforts of Sen. Dole to curb predatory lending practices to our service members. Please ask your Senators to support an amendment adding the language of S 1523 to the DoD Authorization, S 1042.
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Defender of the honor of those in harms way keeping us out of harms way.

"Peace is our Profession"
Strategic Air Command - Motto

USAF 75-79 Security Police

[LewWaters]

Preying on our young Troops financially is as old as the hills. It's way past time to stop these predators that rob our Service Men and Women blind.
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Clark County Conservative