Trump screws the military....................

ABikerSailor

Diamond Member
Aug 26, 2008
55,567
14,694
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Newberry, SC
You know, I remember back in the early to mid 80's when I was still just an E1 through E4, there were LOTS of places that wanted to loan money or sell things on credit specifically to military personnel, because they could get them to pay via allotment. And, many times, those places had finance charges that were damn near 50 percent of what you borrowed. Over the years, the military did various things to protect active duty members from these predatory lenders.

Today, on the news, it was said that Trump was going to scrap all those protections, and the predatory lenders would be free to exploit the military again.

Still think Trump supports the troops? This looks like he's selling them out to the money lenders.

The Trump administration reportedly wants to ditch a regulation protecting military personnel from financial predators

The Trump administration wants to get rid of a decade-old Military Lending Act designed to protect service members from predatory lenders and other financial hucksters looking to swindle US military personnel out of their hard-earned cash, according to internal documents obtained by both the New York Times and National Public Radio.

  • The MLA was established in 2006 to protect active-duty service members and their spouses from predatory lending practices like exorbitant interest rates. According to the Federal Deposit Insurance Corporation, the act imposes "limitations on and requirements for certain types of consumer credit extended to active duty service members and their spouses, children, and certain other dependents."
  • As the New York Times reported on August 10, interim Consumer Financial Protection Bureau chief and dictator Mick Mulvaney, "intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation," a move that would effectively prevent the CFPB from enforcing the MLA.
  • However, those supervisory exams have proven essential in "uncovering previous instances of wrongdoing and led to several of its biggest fines," according to the New York Times, which notes that in 2014, the CFPB "fined one of the largest payday lenders in the country, Ace Cash Express, $10 million after determining the company, based in Texas, steered low-income borrowers, including those in the military, into a succession of financially damaging high-interest loans."
  • University of Utah law professor and former CFBP staffer Christopher Peterson said in an interview with NPR that "if the White House does this, it will be manipulating the Military Lending Act regulations at the behest of auto dealers and banks to try and make it easier to sell overpriced rip-off products to military service members."
  • A Mulvaney spokesman told the New York Times that the rule change was part of a broader review of the agency's regulations, stating that while the CFPB's goal was "to protect service members…we also have to abide by the law."
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
 
The legislation passed doesn't provide for supervisory examinations. Therefore would be illegal. The Consumer Financial Protection agency plans to approach Congress to pass law allowing supervisory examinations.


"Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation, the main consumer measure protecting active-duty service members, according to a two-page draft of the change".

Mulvaney Looks to Weaken Oversight of Military Lending
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
Agree – Trump couldn’t care less about those in the military.

What Trump supports is dishonest businessman – like himself.
 
You know, I remember back in the early to mid 80's when I was still just an E1 through E4, there were LOTS of places that wanted to loan money or sell things on credit specifically to military personnel, because they could get them to pay via allotment. And, many times, those places had finance charges that were damn near 50 percent of what you borrowed. Over the years, the military did various things to protect active duty members from these predatory lenders.

Today, on the news, it was said that Trump was going to scrap all those protections, and the predatory lenders would be free to exploit the military again.

Still think Trump supports the troops? This looks like he's selling them out to the money lenders.

The Trump administration reportedly wants to ditch a regulation protecting military personnel from financial predators

The Trump administration wants to get rid of a decade-old Military Lending Act designed to protect service members from predatory lenders and other financial hucksters looking to swindle US military personnel out of their hard-earned cash, according to internal documents obtained by both the New York Times and National Public Radio.

  • The MLA was established in 2006 to protect active-duty service members and their spouses from predatory lending practices like exorbitant interest rates. According to the Federal Deposit Insurance Corporation, the act imposes "limitations on and requirements for certain types of consumer credit extended to active duty service members and their spouses, children, and certain other dependents."
  • As the New York Times reported on August 10, interim Consumer Financial Protection Bureau chief and dictator Mick Mulvaney, "intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation," a move that would effectively prevent the CFPB from enforcing the MLA.
  • However, those supervisory exams have proven essential in "uncovering previous instances of wrongdoing and led to several of its biggest fines," according to the New York Times, which notes that in 2014, the CFPB "fined one of the largest payday lenders in the country, Ace Cash Express, $10 million after determining the company, based in Texas, steered low-income borrowers, including those in the military, into a succession of financially damaging high-interest loans."
  • University of Utah law professor and former CFBP staffer Christopher Peterson said in an interview with NPR that "if the White House does this, it will be manipulating the Military Lending Act regulations at the behest of auto dealers and banks to try and make it easier to sell overpriced rip-off products to military service members."
  • A Mulvaney spokesman told the New York Times that the rule change was part of a broader review of the agency's regulations, stating that while the CFPB's goal was "to protect service members…we also have to abide by the law."
Trump is a dick

He looks at soldiers as suckers. Same suckers he made a fortune on
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
Agree – Trump couldn’t care less about those in the military.

What Trump supports is dishonest businessman – like himself.

Jones doubles down on dumb AFTER being informed why this happened

Too fucking funny

/thread....it's a nuthin burger. Well except evidently Ears's people didn't know how to properly write legislation
 
You know, I remember back in the early to mid 80's when I was still just an E1 through E4, there were LOTS of places that wanted to loan money or sell things on credit specifically to military personnel, because they could get them to pay via allotment. And, many times, those places had finance charges that were damn near 50 percent of what you borrowed. Over the years, the military did various things to protect active duty members from these predatory lenders.

Today, on the news, it was said that Trump was going to scrap all those protections, and the predatory lenders would be free to exploit the military again.

Still think Trump supports the troops? This looks like he's selling them out to the money lenders.

The Trump administration reportedly wants to ditch a regulation protecting military personnel from financial predators

The Trump administration wants to get rid of a decade-old Military Lending Act designed to protect service members from predatory lenders and other financial hucksters looking to swindle US military personnel out of their hard-earned cash, according to internal documents obtained by both the New York Times and National Public Radio.

  • The MLA was established in 2006 to protect active-duty service members and their spouses from predatory lending practices like exorbitant interest rates. According to the Federal Deposit Insurance Corporation, the act imposes "limitations on and requirements for certain types of consumer credit extended to active duty service members and their spouses, children, and certain other dependents."
  • As the New York Times reported on August 10, interim Consumer Financial Protection Bureau chief and dictator Mick Mulvaney, "intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation," a move that would effectively prevent the CFPB from enforcing the MLA.
  • However, those supervisory exams have proven essential in "uncovering previous instances of wrongdoing and led to several of its biggest fines," according to the New York Times, which notes that in 2014, the CFPB "fined one of the largest payday lenders in the country, Ace Cash Express, $10 million after determining the company, based in Texas, steered low-income borrowers, including those in the military, into a succession of financially damaging high-interest loans."
  • University of Utah law professor and former CFBP staffer Christopher Peterson said in an interview with NPR that "if the White House does this, it will be manipulating the Military Lending Act regulations at the behest of auto dealers and banks to try and make it easier to sell overpriced rip-off products to military service members."
  • A Mulvaney spokesman told the New York Times that the rule change was part of a broader review of the agency's regulations, stating that while the CFPB's goal was "to protect service members…we also have to abide by the law."
i just read or glanced through your opening post but aren't all military members adults and able to take care of their financial dealings like ADULTS BSailor ??
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
---------------------------- let the buyer beware BSailor .
 
I'm honestly neutral to this. I mean a fool and his money are soon departed.

EVERYONE should be protected from predatory lending. Why just the military?
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
Agree – Trump couldn’t care less about those in the military.

What Trump supports is dishonest businessman – like himself.
like you care about the military .....if a Obama was doing this you would telling us the reason it has to be done....
 
You know, I remember back in the early to mid 80's when I was still just an E1 through E4, there were LOTS of places that wanted to loan money or sell things on credit specifically to military personnel, because they could get them to pay via allotment. And, many times, those places had finance charges that were damn near 50 percent of what you borrowed. Over the years, the military did various things to protect active duty members from these predatory lenders.

Today, on the news, it was said that Trump was going to scrap all those protections, and the predatory lenders would be free to exploit the military again.

Still think Trump supports the troops? This looks like he's selling them out to the money lenders.

The Trump administration reportedly wants to ditch a regulation protecting military personnel from financial predators

The Trump administration wants to get rid of a decade-old Military Lending Act designed to protect service members from predatory lenders and other financial hucksters looking to swindle US military personnel out of their hard-earned cash, according to internal documents obtained by both the New York Times and National Public Radio.

  • The MLA was established in 2006 to protect active-duty service members and their spouses from predatory lending practices like exorbitant interest rates. According to the Federal Deposit Insurance Corporation, the act imposes "limitations on and requirements for certain types of consumer credit extended to active duty service members and their spouses, children, and certain other dependents."
  • As the New York Times reported on August 10, interim Consumer Financial Protection Bureau chief and dictator Mick Mulvaney, "intends to scrap the use of so-called supervisory examinations of lenders, arguing that such proactive oversight is not explicitly laid out in the legislation," a move that would effectively prevent the CFPB from enforcing the MLA.
  • However, those supervisory exams have proven essential in "uncovering previous instances of wrongdoing and led to several of its biggest fines," according to the New York Times, which notes that in 2014, the CFPB "fined one of the largest payday lenders in the country, Ace Cash Express, $10 million after determining the company, based in Texas, steered low-income borrowers, including those in the military, into a succession of financially damaging high-interest loans."
  • University of Utah law professor and former CFBP staffer Christopher Peterson said in an interview with NPR that "if the White House does this, it will be manipulating the Military Lending Act regulations at the behest of auto dealers and banks to try and make it easier to sell overpriced rip-off products to military service members."
  • A Mulvaney spokesman told the New York Times that the rule change was part of a broader review of the agency's regulations, stating that while the CFPB's goal was "to protect service members…we also have to abide by the law."
i just read or glanced through your opening post but aren't all military members adults and able to take care of their financial dealings like ADULTS BSailor ??

Young adults who have other concerns who make easy prey to predatory lenders
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
Agree – Trump couldn’t care less about those in the military.

What Trump supports is dishonest businessman – like himself.
like you care about the military .....if a Obama was doing this you would telling us the reason it has to be done....
Obama would not have done it
He cut down predatory lending to college students

Only Trump would support the leeches who prey on soldiers
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
---------------------------- let the buyer beware BSailor .

Trump slogan......sucker born every minute
 
You know Clayton, I still am wondering how ANYONE could say that Trump supports the military. The only thing he really wants is to use them as a backdrop to make his b.s. sound "presidential" by speaking in front of the troops.

Or.............a large military parade that would honor him, but be a hassle for the troops that have to participate.

Nope, Trump doesn't support the military very well. He's taken away financial protections, and oh yeah, that Veteran's Choice program that Trump likes to say he started? It wasn't started by Trump, it was started by Obama after the debacle that happened in Phoenix VA.

This on the other hand, is simply serving military paychecks to greedy lenders who take advantage of military personnel.

I remember I got suckered in by one of those places once. Ended up paying more than twice what the stuff I got was worth.
Agree – Trump couldn’t care less about those in the military.

What Trump supports is dishonest businessman – like himself.
like you care about the military .....if a Obama was doing this you would telling us the reason it has to be done....
Obama would not have done it
He cut down predatory lending to college students

Only Trump would support the leeches who prey on soldiers
it was theoretical RW.....like your Mary and Joseph scenario the other day....but what i said about jones stands.....
 

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