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Senators turn to Pentagon to guard Servicemembers by Plugging Payday Loan Loophole

WASHINGTON, DC – in order to protect soldiers and their families from abusive economic techniques, a team of 23 U.S. Senators, led by Jack Reed (D-RI), Dick Durbin (D-IL), and Mark Udall (D-CO), is urging Department of Defense (DOD) Secretary Chuck Hagel to close a loophole enabling loan providers to restructure their old-fashioned loans to prevent a DOD guideline restricting …