Terry Scott
“[Payday lenders] say they meet a need. Well, in my opinion, so do loan sharks.”
Recently retired military officer Terry Scott believes payday loans are a threat to our military readiness…
The Department of Defense says payday lending debt is a key quality-of-life issue affecting service members. Service members risk losing their security clearance for financial troubles. Terry Scott also said:
“If I go back to six years ago, we had a little over 100 sailors lose their security clearance because of financial problems. That number is almost 2,000 for fiscal year 2005… All of this impacts our readiness, our mission capability … [and] it is a concern of all of our leadership.”
Terry Scott is a recently retired Master Chief Petty Officer.
Source: Are Predatory Lenders Ripping Off Our Nation’s Finest? (ABC News)
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