By Paul Kiel, ProPublica and Mitchell Hartman, Marketplace
Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded by storefront lenders who charge high annual percentage rates, sometimes exceeding 400 percent.
By R. Jeffrey Smith
Center for Public Integrity
“What can you do with a general, when he stops being a general?” crooned Bing Crosby in the 1954 movie “White Christmas.” “Who’s got a job for a general when he stops being a general?” Alas, the answer, 58 years later, is now clear.
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