“Given the many sacrifices military families make, it is deeply disturbing that predatory lenders would target them with exploitive financial schemes,” Sen. Mazie HironoMazie Keiko HironoOVERNIGHT ENERGY: Barrasso to seek top spot on Energy and Natural Resources Committee | Forest Service finalizes rule weakening environmental review of its projects | Biden to enlist Agriculture, Transportation agencies in climate fight Senate advances energy regulator nominees despite uncertainty of floor vote Democratic senators urge Facebook to take action on anti-Muslim bigotry MORE (D-Hawaii) said Wednesday. “I’m proud to join with my colleagues in urging the Department of Defense to tighten up financial protections for military families and close loopholes that leave service members vulnerable to these predatory practices.”

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The senators said payday lenders “cluster” around military bases and target advertising toward service members. 

The Department of Defense has the authority to write rules to protect service members from certain predatory loans, but the senators said the DOD failed to include high-interest products, such as overdraft loans, installment loans, nontraditional payday loans and nontraditional car title loans in its definition of “consumer credit.”

“Due to the narrow definition of consumer credit, certain lenders are offering predatory loan products to service members at exorbitant triple digit effective interest rates and loan products that do not include the additional protections envisioned by the law,” the letter stated. “Service members and their families deserve the strongest possible protections and swift action to ensure that all forms of credit offered to members of our armed forces are safe and sound.”

Currently, loans that fall under the definition of consumer credit are capped at an interest rate of 36 percent. The DOD is considering rule changes to its consumer credit protection program. The lawmakers said that if the DOD expanded its definition of consumer credit to apply to more types of loans, then rates for service members would not exceed the 36 percent mark.

In addition to Hirono, Democratic Sens. Jack ReedJack ReedTop Democrat calls Trump's Afghan drawdown 'the right policy decision' as others warn of 'mistake' Overnight Defense: Trump fires Defense chief Mark Esper | Worries grow about rudderless post-election Pentagon | Esper firing hints at broader post-election shake-up | Pelosi says Esper firing shows Trump intent on sowing 'chaos' Esper firing hints at broader post-election shake-up MORE (R.I.), Dick DurbinDick DurbinDemocrats brush off calls for Biden to play hardball on Cabinet picks Ending Trump's transactional arrogance on our public lands President is wild card as shutdown fears grow MORE (Ill.), Mark UdallMark Emery UdallHickenlooper ousts Gardner in Colorado, handing Democrats vital pickup Live updates: Democrats fight to take control of the Senate The 10 Senate seats most likely to flip MORE (Colo.), Joe DonnellyJoseph (Joe) Simon DonnellyBiden and Schumer face battles with left if Democrats win big Harris walks fine line on Barrett as election nears The Hill's Morning Report - Sponsored by JobsOhio - Showdown: Trump-Biden debate likely to be nasty MORE (Ind.), Brian Schatz (Hawaii), Tom UdallThomas (Tom) Stewart UdallHouse Democrats push Biden to pick Haaland as next Interior secretary OVERNIGHT ENERGY: Haaland being vetted by Biden team for Interior Secretary | Progressive group slams Biden White House pick over tie to fossil fuel industry | Green groups sue over Arctic drilling plans Haaland being vetted by Biden team for Interior secretary MORE (N.M.), Richard Blumenthal (Conn.), Bill NelsonClarence (Bill) William NelsonThe Hill's Morning Report - Fearing defeat, Trump claims 'illegal' ballots The Hill's Morning Report - Biden inches closer to victory Senate Democrats want to avoid Kavanaugh 2.0 MORE (Fla.), Tom HarkinThomas (Tom) Richard HarkinA pandemic election should move America to address caregivers' struggles The Memo: Trump attacks on Harris risk backfiring Ernst challenges Greenfield to six debates in Iowa Senate race MORE (Iowa), Sheldon WhitehouseSheldon WhitehouseGOP breaks with Trump firing of cyber chief: Adds to 'confusion and chaos' Graham becomes center of Georgia storm Graham says he's talked to officials in two states about election MORE (R.I.), Claire McCaskillClaire Conner McCaskillDemocrats must turn around Utah police arrest man driving 130 mph claiming he was going to kill former Missouri senator McCaskill congratulates Hawley on birth of daughter MORE (Mo.), Elizabeth WarrenElizabeth WarrenDemocrats brush off calls for Biden to play hardball on Cabinet picks What's behind the divisions over Biden's secretary of Labor? Alito to far-right litigants: The buffet is open MORE (Mass.), Jeff MerkleyJeff MerkleySupreme Court declines to hear case challenging unlimited super PAC fundraising Trump supporters demonstrate across the country following Biden-Harris win Merkley wins reelection in Oregon Senate race MORE (Ore.), Al FrankenAlan (Al) Stuart FrankenThe Hill's Morning Report - Presented by the UAE Embassy in Washington, DC - Trump, Biden clash over transition holdup, pandemic plans The Hill's Morning Report - Fearing defeat, Trump claims 'illegal' ballots The Hill's Morning Report - Biden inches closer to victory MORE (Minn.), Ed MarkeyEd MarkeyOVERNIGHT ENERGY: Biden eyes new leadership at troubled public lands agency | House progressives tout their growing numbers in the chamber at climate rally | Trump administration pushes for rollback of Arctic offshore drilling regulations House progressives tout their growing numbers in the chamber at climate rally UK moves up deadline to ban sales of new gasoline and diesel vehicles MORE (Mass.), Kirsten GillibrandKirsten GillibrandDemocratic senators urge Facebook to take action on anti-Muslim bigotry Social media responds to Harris making history: 'I feel like our ancestors are rejoicing' Ocasio-Cortez says she doesn't plan on 'staying in the House forever' MORE (N.Y.), Mark WarnerMark Robert WarnerLeadership changes at top cyber agency raise national security concerns IRS races to get remaining stimulus checks to low-income households Hillicon Valley: Trump fires top federal cybersecurity official, GOP senators push back | Apple to pay 3 million to resolve fight over batteries | Los Angeles Police ban use of third-party facial recognition software MORE (Va.), Ron WydenRonald (Ron) Lee WydenOn The Money: Push for student loan forgiveness puts Biden in tight spot | Trump is wild card as shutdown fears grow | Mnuchin asks Fed to return 5 billion in unspent COVID emergency funds Grassley, Wyden criticize Treasury guidance concerning PPP loans The FCC is trying to govern content moderation: It doesn't have the authority MORE (Ore.), Patty MurrayPatricia (Patty) Lynn MurrayDemocratic anger rises over Trump obstacles to Biden transition DOJ investigation into Epstein deal ends without recommended action The Hill's 12:30 Report: What to know about the Pfizer vaccine announcement MORE (Wash.), Sherrod BrownSherrod Campbell BrownOn The Money: Democrats accuse Mnuchin of sabotaging economy in dispute with Fed | Trump administration proposal takes aim at bank pledges to avoid fossil fuel financing | JPMorgan: Economy will shrink in first quarter due to COVID-19 spike Democrats accuse Mnuchin of sabotaging economy in dispute with Fed McSally, staff asked to break up maskless photo op inside Capitol MORE (Ohio), Martin HeinrichMartin Trevor HeinrichHouse Democrats push Biden to pick Haaland as next Interior secretary OVERNIGHT ENERGY: Haaland being vetted by Biden team for Interior Secretary | Progressive group slams Biden White House pick over tie to fossil fuel industry | Green groups sue over Arctic drilling plans Haaland being vetted by Biden team for Interior secretary MORE (N.M.) and Tammy BaldwinTammy Suzanne BaldwinSenate Democrats reelect Schumer as leader by acclamation  Next Congress expected to have record diversity Infrastructure, energy investments urgently needed to create U.S. jobs MORE (Wis.) signed the letter.