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.
The U.S., South Korea, and Japan flew an unusual trilateral flight with two U.S. B-52H Stratofortress bombers escorted by two Japan Air Self-Defense Force F-2s, and two ROK Air Force KF-16 fighters—both countries’ respective variants of the F-16—July 11. That same weekend, the top military officers of the three nations…