TAKE TWO: The Pentagon's proposed update to military-lending rules would extend the 36% interest rate cap on loans for service members, so that it includes credit cards and installment loans in addition to payday loans.
A new proposal from the Pentagon on high-cost lending would affect a wide swath of the consumer finance industry, including not only payday lenders but also banks and credit unions. more »
Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million. more »