U.S. PIRG Consumer Blog: Marine General Calls Payday Lenders "Parasites"

In a powerful straight-talking speech on a variety of issues that are important to him -- from better veterans' preferences in education to the need for the media and the public to not merely criticize the problems but to also recognize our successes and progress in Iraq -- it was significant that Major General Mike Lehnert, commander of Marine Corps Bases (West), spent some time condemning predatory lenders because of their impact on both military families and military readiness. Here's a brief excerpt: MORE:

With our Navy partners we are going after Pay Day Lenders. Pay Day Lenders are the parasites found outside of our military bases in Southern California who prey on young Marines and Sailors because the lenders know they are uninformed consumers.

We've seen signs that 2006 may be the year that the U.S. Congress wakes up to the reality that payday lenders and other financial predators are lined up outside our military bases ripping off our soldiers and sailors and their families. We'll have more on this important issue and the important role that military leaders including General Lehnert are playing in coalitions against the predators. A few of my previous blogs with more background on the military/predatory lender connection are here and here and here (where we "out" the predators for setting up a fak-o think tank to publish weak research purporting that the military need the payday lender "choice") and here.