Lending Protections for Service Members
Effective October 1, 2007, the Department of Defense final
regulation of the Talent-Nelson amendment has imposed restrictions
on certain types of consumer lending. The final regulation focused
on predatory products, such as payday loans, car title loans, and
tax refund anticipation loans. The most significant restriction is a
36 percent APR cap on loans to Service members and their dependents,
protecting military families from excessive APR rates.
These new restriction will severely limit certain lenders (payday
and car title lenders especially) from continuing to do business
with Service members and their families.
Pioneer Military Lending offers a responsible alternative to payday
loans.
- Military Loans
for all ranks and branches
- Loans from $500 to $10,000
- Every loan is backed by a 15-day, no-cost return policy. If, for
any reason, you are not completely satisfied, you can cancel your
loan within 15 days at no cost to you ... guaranteed
Their Military Scoring Model recognizes the unique military
lifestyle and more accurately judges a military customer's true
credit worthiness, leading to the best rate and fair price. |
