After siding with predatory payday lenders over troops and their families earlier this year, Tom MacArthur is scrambling to whitewash his record.
This past spring, MacArthur voted to delay critical protections for U.S. troops and their families from predatory lenders. Despite coming under considerable fire, MacArthur never adequately explained himself to South Jersey voters.
Now MacArthur is trying to sidestep the issue and hope South Jersey voters forget the whole thing
“As MacArthur scrambles to whitewash his record, South Jersey voters won’t forget that he shamefully sided with predatory payday lenders over Servicemembers at Joint Base McGuire-Dix-Lakehurst and their families,” said Bryan Lesswing at the DCCC.
Background:
MacArthur Voted To Delay Closing Loopholes To Protect Troops From Predatory Lenders. “Another controversial amendment concerned rules for institutions lending to military families. Existing Department of Defense rules cap the interest that can be charged at 36 percent, but some lenders have found ways around the limit. New rules were written to try to close the loopholes, but language in the Authorization Act sought more information to ensure legitimate lenders weren’t unfairly impacted. Concerned that the language could delay implementation of the new rules, Illinois Democrat Tammy Duckworth proposed an amendment to scrap the language. It narrowly passed 32-30, carried by all 27 Democrats on the committee and five Republicans. MacArthur voted against the amendment.” [Burlington County Times, 4/30/15]
Huffington Post: “Democrats Defeat GOP Plan To Block Predatory Lending Protections For Soldiers.” [Huffington Post, 4/30/15]
MacArthur Voted Against Removing Language Postponing Protections For Service Members From Predatory Lenders. “House Democrats successfully knocked down a GOP plan early Thursday morning that would have blocked predatory lending protections for American soldiers. Republicans had slipped the deregulation measure into the National Defense Authorization Act — a major bill that sets the military’s funding levels. The bill would have imposed a one-year delay on new Department of Defense rules designed to shield military families from abusive terms on payday loans and other forms of expensive short-term credit.” MacArthur was one of 30 Republicans to oppose the amendment. [Huffington Post, 4/30/15]