Legion Aide Prefers GI Rate Rise to Evils
ÛÏ An American Legion official said yesterday it i.would be better to raise interest rates on GI home loanÛ÷d than</br></br>ÛÏ An American Legion official said yesterday it i.would be better to raise interest rates on GI home loanÛ÷d than to let ÛÏundercover boysÛ collect extra fees and premiums. William G. McKinley, a national executive committee- man from 'New Jersey, said ÛÏhush-bushÛ fees are costing veterans a ÛÏmuch higherÛ rate than the legal 4Vfe per cent interest.</br></br>ucts Industries, Inc. . Û¢ ;cH. L. McNulty has been named general manager of the'juGreat Lakes Division of Mach Trucks, Inc.	***</br></br>sponsored by the LegionÛªs New JerseyÛªs Department, said he, cannot judge whether this practice is legal. But he said ÛÏI am satisfied that it is not ethical and not strictly on the level.Û McKinley said the Legion favors continuing the 4Vfe per cent rate as long as possible. But he said the higher ratei would be preferable to letting] GI borrowers continue to be ÛÏthe victims of a swindle.Û</br></br>He said ÛÏvarious opportunistsÛ have set up a brokerage system under which extra fees, service charges and premiums are tacked on to loans. He called this the ÛÏreal evilÛ in the program.