Payday lending stores near military bases in the United States have mostly closed down since 2007 because of

A) A large increase in salaries paid to the military personnel.
B) A reduced demand because of the Great Recession.
C) Congress passed a law restricting interest rates to 36 percent from military personnel and their families.
D) Congress has outlawed payday lending around our military bases.

Payday Lending

A type of short-term borrowing where lenders offer high-interest loans based on the borrower's income and credit profile.

Interest Rates

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal, or the rate at which interest is paid by bond issuers on the bond’s face value.

Military Bases

Facilities established by the military for housing troops, storing equipment, and training personnel, often strategically located.