The new law capping the interest rate lenders can charge military personnel begins working on Oct. 1. This is the law Congress passed last year after discovery of what some termed “predatory” lending practices that targeted military members and their families. Some members were paying up to 800 percent interest. The new law caps the rate at 36 percent, including all fees and other charges, per a notice issued by the 2nd Bomb Wing Legal Office at Barksdale AFB, La.
Fresh off a meeting of the national armaments directors of NATO and the European Union, Pentagon acquisition and logistics chief William A. LaPlante said the allies and partners are moving toward not simply interoperable munitions, but “interchangeable” as well. The 45 directors met to discuss how they will provide military…