House Expected To Pass Bill On PredatoryLending & Military

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WASHINGTON - (06/28/05) The House was expected to pass HR 458,which deals with predatory lending practices on military bases. Ifthe bill passes, it will head to the Senate, which hasn't acted onthe legislation, as yet, according to NAFCU's Brad Thaler.“It could be that the Senate is waiting for the GAO report onthis issue that is expected out later this year,” he noted.The trade association representing payday lenders and check-cashersrecently enacted a voluntary code of ethics for theirmembers.

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