HUFFINGTON POST: When President Obama offers his State of the Union address Tuesday night, he plans to discuss the welfare of the nation’s troops returning home from conflict overseas. But also of significant concern are the conditions facing American soldiers right here in the U.S.
Most American military posts are encircled by an array of questionable lending operations that many consumer advocates describe as being predatory. The issue has received greater attention this month with the announcement that Holly Petraeus, wife of Army General and top Afghanistan commander David Petraeus, will lead a newly created division of the Consumer Financial Protection Agency aimed at curbing such practices directed toward military service members.
Outside seemingly every military post across the country, scenes such as in Lawton are familiar: car dealerships, cash advance businesses, furniture stores and electronics dealers all offer a tantalizing array of buy now-pay later options, marketed in particular to young soldiers who have little in the way of savings and either bad or non-existent credit histories… (more)
