"Based on research, we found it did not have much of an effect at all on credit and debt outcomes among residents of military communities, specifically those with subprime credit scores," Garon said.
Borrowers with subprime credit scores also did not see a decline in delinquency or collection rates on revolving loans.'Detrimental effects on the most vulnerable'Importantly, those with the lowest subprime credit scores of less than 500 may have seen reduced credit access.A bill put forward in Congress called the Veterans and Consumers Fair Credit Act seeks to implement a 36% cap on debt for veterans and other consumers.
interest rates have a way of being 'uncappable' 🤨
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