As an element of the Defense Reauthorization Bill , Senators Jim Talent, R-Mo., and Bill Nelson, D-Fl, introduced a bipartisan amendment that caps interest levels for several loans to solution people and their dependents at 36 %. This amendment, which passed the Senate at the conclusion of June, tries to curb the training of payday lenders targeting military workers. The Talent-Nelson amendment can be an step that is important protecting naive and susceptible solution users from predatory loan providers and really should stay in the seminar committee bill.