Madam President, I rise today to support the Senator from Florida, my dear friend Senator Bill Nelson, and to thank him for his leadership in working on a bipartisan basis to enact the Military Lending Act in 2006, which caps the annual interest rate for an extension of consumer credit to a servicemember or his or her dependents at 36 percent. Because of his efforts, servicemembers and their families have strong consumer protections that defend them against unscrupulous lenders who unpatriotically, in my view, prey upon these young men and women while they are selflessly and valiantly serving this Nation. It has been my honor to work with the Senator from Florida in enacting, protecting, and strengthening the Military Lending Act since 2006. I must say that my experience is not just as a legislator. I had the privilege of commanding a paratrooper company in the 82nd Airborne Division, and before that I was the executive officer. I spent many, many hours with young soldiers who had been taken advantage of by--not all businessmen, but, in fact, very few--unscrupulous operators who would prey on them, who would leave them in a financial condition that ruined their careers and their lives.…
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