Payday Loans Online | Payday Loan Limits May Help Soldiers

Limiting high-priced payday loans offered around military bases would help some of the 28,000 soldiers stationed at Fort Campbell, especially younger enlistees living on their own for the first time, an Army sergeant claimed Tuesday. Tennessee is home to 1,428 payday lenders that can charge fees up to 15 percent on two-week loans, according to the state's Department of Financial Institutions.

President Bush is scheduled to sign a bill into law today that would cap the annual interest payday lenders can charge at 36 percent instead of the 390 percent maximum now allowed under state law.