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.
Defense Secretary Pete Hegseth this week released strategies meant to focus the Pentagon’s “alphabet soup” of innovation organizations and proliferate artificial intelligence—moves that experts say could provide the structure needed to make the military’s efforts to integrate and field new technology more effective.
