A Ban On High-Cost Loans Might Be Coming. Sid Hastings/AP hide caption The Military Lending Act caps yearly interest on loans to army people at 36% and will be offering other safeguards. Now, lawmakers are proposing to increase that protection to veterans yet others. Updated at 12:23 p.m. ET A years that are few, money had been extremely tight for Chasity Wohlford. The Houston resident, who was simply working a job that is low-wage had a need to fly to Colorado for a household crisis. She states a buddy informed her, "Oh, simply head to this payday lender. It is.