The Military Lending Act has been established to combat abusive lending practices, aimed at Military Families. It places specific requirements and limitations on loans to service members and their families.
It focuses mainly on three consumer credit products: payday loans, vehicle title loans and tax refund anticipation loans. For these three products, the Military Annual Percentage Rate (MAPR) can not exceed 36%. According to Jean Ann Fox, director of consumer protection for the Consumer Federation of America: “The 36% cap will slow the predatory lenders down.”
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36% cap on Interest? Am I the only one who thinks that putting a cap that high is still outrageous? Am I missing something? If so – somebody please explain it to me!
U.S. Army PCS 
Fast cash payday loans are offered to people who have expenses that cannot wait for a payment from the company they work in. Most people are taken in by the immediate availability of cash. But in reality, one should step back and look at the terms and conditions, and what gains are expected to be made by the purveyor of these loans. After all, these people are not handing out money in charity, are they?
They expect to make a bonus profit out of it, by way of high margin money interest. It is exactly that. There are very steep conditions that are not told upfront. When you are in a hurry, you don’t stop to look at the fine print, when signing up for this kind of loan. And that is where the catch is. Instead of plunging straight into it, it is better for you to think of other options that are there, but in that blinding hurry you are forgetting what other resources you can tap.
http://paydayloanstoday.wikidot.com