CHICAGO, IL –-(ENEWSPF)--November 25, 2014. U.S. Senator Dick Durbin (D-IL) and U.S. Senator Jack Reed (D-RI) and today led a group of 40 Senate colleagues in supporting the Department of Defense’s (DOD) plan to update the Military Lending Act (MLA) and close existing loopholes in order to better protect soldiers and their families from abusive financial practices. The letter, sent to U.S. Secretary of Defense Chuck Hagel, expresses strong support for the proposed new rule to help prevent lenders from charging excessive fees and taking advantage of military families.