In July 2015, the Department of Defense issued a strong new rule to close loopholes in the Military Lending Act, a critical military financial protection designed to prevent payday and other high-cost, abusive lenders from targeting servicemembers and their families – putting their security clearance and careers at risk.  Lenders must comply with these new protections by Oct 2016, with some lenders receiving an extra year to comply. In advance of this week’s subcommittee mark-up and next week’s full committee mark-up, CFA urges House Committee on Armed Services members to stand with servicemembers and their families and against abusive lending practices and sky-high interest rates.