Hahn announces Military Protection Act

Troops need protection from predatory lending

Democratic candidate for governor David Hahn today unveiled the Military Protection Act. Hahn's plan would criminalize predatory loan practices now used to victimize Nebraskans in the military. The proposal would also expand a variety of benefits for men and women in the armed forces.

Hahn said that the Military Protection Act was especially important because members of the military are underpaid and often must resort to high-interest, predatory paycheck advance operations to pay their monthly bills. Media such as the Omaha World-Herald and CNN have already reported how predatory paycheck advance operations target troops and threaten national security.

Governor Heineman signed legislation on April 10 of this year, making it easier for predatory "paycheck advance" operations to expand. Heineman had earlier received four donations totaling $2,000.00 from those who operate these unconscionable loan schemes.

"Unfortunately, Nebraska's governor takes donations from these predatory paycheck advance operations, these legal loan sharks, which specifically target our troops," Hahn said.

"Dave Heineman went to West Point, and we respect that - but he quickly chose to make a career of politics. Our military men and are virtually being shaken down by these loan operations. Meanwhile, the governor accepts thousands of dollars from them. This isn't negative campaigning - this is from the governor's own campaign reports."

Hahn's Military Protection Act will:

- Provide tuition refunds for military personnel who are activated in the middle of a semester

-Provide in-state tuition for dependents of Nebraska military personnel

-Provide $250,000 in life insurance for the family of a Nebraskan troop who dies in combat

-Cap the interest predatory paycheck advance stores can charge military personnel at 24 percent annual percentage rate

Click here to download a digital copy of the Military Protection Act.