The NYT reports:
Over the last two years, lawmakers in at least eight states have voted to increase the fees or the interest rates that lenders can charge on certain personal loans used by millions of borrowers with subpar credit.
The overhaul of the state lending laws comes after a lobbying push by the consumer loan industry and a wave of campaign donations to state lawmakers.
Some of the strongest opposition to the changes came from military commanders who feared that their troops would be hard hit, according to the Times. Read the full story here.