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49 Senators Want To Keep Protections Of Military Lending Act In Place

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Copyright 2018 NPR. To see more, visit DAVID GREENE, HOST: The Trump administration is taking aim at a law designed to protect military service members from getting cheated by shady financial practices. After The New York Times and NPR reported about this, 49 U.S. senators - all Democrats and independents - signed a letter to the Trump administration asking it to change course. Here's NPR's Chris Arnold. CHRIS ARNOLD, BYLINE: The Consumer Financial Protection Bureau is a watchdog agency that monitors payday lenders and other firms to find out if they're breaking the law. But the Trump administration's acting director of the bureau, Mick Mulvaney, is planning to have the bureau stop looking for violations of what's called the Military Lending Act. It's a law designed to protect service members. Democratic Senator Jack Reed does not like that. JACK REED: It's outrageous. We are all standing up and talking constantly as we should about the service and sacrifices of men and women in

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