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Navy-Marine Corps Relief Society weighs in against payday lending bill

As they have several times in past years, experts who counsel vulnerable soldiers, sailors, airmen and marines are speaking out against the expansion of predatory lending in North Carolina. Today, the Navy-Marine Corps Relief Society sent a letter to the General Assembly in which the group makes clear what a terrible idea it would be to re-legalize “payday” lending as is proposed in recently introduced legislation.

According to the letter (which is signed by the Society’s President, Retired Admiral Steve Abbot):

“The negative impact of payday loans on military readiness is profound, and the harm caused by these loans is significant; exhausting resources that could be used in other ways, and creating unnecessary hardship for military families (and others).” 

Click here to read the entire letter.

 

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