• BRAC 2005: The Pain and the Profit

    The Federal Reserve Bank of Richmond has published a well-researched examination of the economic growth occurring at several mid-Atlantic installations gaining new missions as a result of BRAC, along with the burden neighboring defense communities are striving to meet to accommodate the influx. Overall, regions with higher manufacturing and retail shares — and in those that already receive a large share of military prime contracts — are best positioned to benefit from military growth …

  • Lender Settles Suit over Military Families’ Mortgages

    J.P. Morgan Chase will pay $27 million to settle a class-action lawsuit claiming the bank overcharged service members for their mortgages. The Servicemembers Civil Relief Act bars lenders from charging active-duty members of the military more than 6 percent interest on their mortgages, as well as foreclosing on their homes during their service …

  • Upgrading Roads, Schools’ Curriculum Would Help Aberdeen

    While commanders at Aberdeen Proving Ground, Md., are confident that the $1 billion worth of BRAC construction projects at the post will be finished by the Sept. 15 implementation deadline, officers there raised several outstanding concerns last week during a meeting with Sen. Barbara Mikulski. For one, the Army has identified seven local intersections that need to be upgraded at a cost exceeding $100 million …