releases: https://www.tillis.senate.gov//public/index.cfm/thom-in-the-news?ContentRecord_id=AD80C283-2523-4F4E-A472-99F0291107A6
Data license: MIT · Data source: dwillis/congress-press
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| https://www.tillis.senate.gov//public/index.cfm/thom-in-the-news?ContentRecord_id=AD80C283-2523-4F4E-A472-99F0291107A6 | Congress working to protect veterans from risky loans | 2017-12-27 | 2017 | 2017-12 | Republican | House | NC | Thom Tillis | T000476 | www.tillis.senate.gov | legacy | Federal agencies want to make it tougher for bad lenders to target veterans. One Senatoris among other members of Congress working on ways to protect service members from risky loans. "There are some bad actors out there and we are going to go after them" Senator Thom Tillis, R-North Carolina, wants to crack down on lender pushing bad loans on veterans. "They are sending a mailer to someone's home who's financially stressed. Their spouse may be deployed. They are trying to figure out how to pay the bills; this looks like it is going to save them money or not cost them anything, when in fact it is providing little to no value. Those are the sorts of practices we need to get rid of." The Consumer Financial Protection Bureau says in 2016, it received more than 12,500 mortgage complaints from service members and their dependents. Officials say concerns included churning an illegal practice where loans are refinanced over and over again with no benefit to the borrower. This year, officials are increasing efforts to prevent veterans from being targets The federal government created a task force to examine abusive lending practices. Task force members say potential solutions include stronger requirements for lenders who are targeting veterans. Members of Congress are also working on legislation to protect service members. "We've spent time with the industry and the VA. We crafted a baseline bill that. I think we are going to get bipartisan support," said Sen. Tillis. That support that could help eliminate lending practices that hurt veterans. Read the article here. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |