Retiring Naval Officer Fought Against Military Payday Loans

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

As Joe R. Campa Jr. was sworn in as the Navy's 11th Master Chief Petty Officer this week, most of the day's attention was focused on his predecessor.

Terry D. Scott received praised for being an exceptional leaders at the ceremony at the Washington Navy Yard. Aside from actual battles, one of the struggled Scott focused on for awhile? The military payday loan issue.

Until his very last day in office, Scott worked for his fellow servicemen. He recently gave an interview to a major news station about the problem of predatory cash advance lenders, businesses targeting sailors for supposedly cheap payday loans or title loans with enormous interest rates.

Such an issue has been in the news a lot these days. The Pentagon is even getting involved in the debate in military payday loans and we'll keep you posted as events occur.